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    Empanelment of Agency Under SARFAESI Act Format

    Uploaded by

    P Dhar
    (i) The document outlines eligibility criteria for empanelment of enforcement agencies by banks. Key criteria include Indian citizenship/entity, no disqualifications, convictions or misconduct, possessing necessary documentation and infrastructure. (ii) Additional criteria include a minimum of 3 years experience as an enforcement agency with public sector banks, completing at least 3 assignments successfully in the past 3 years, and meeting other experience, complaint, and registration requirements. (iii) The application form seeks details from applicant agencies on their profile, personnel, expertise, infrastructure, experience, accounts, and any negative incidents to assess eligibility as per the criteria laid out. Undertakings are also required from the agency.

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    Empanelment of Agency Under SARFAESI Act Format

    Uploaded by

    P Dhar
    123 views8 pages
    (i) The document outlines eligibility criteria for empanelment of enforcement agencies by banks. Key criteria include Indian citizenship/entity, no disqualifications, convictions or misconduct, possessing necessary documentation and infrastructure. (ii) Additional criteria include a minimum of 3 years experience as an enforcement agency with public sector banks, completing at least 3 assignments successfully in the past 3 years, and meeting other experience, complaint, and registration requirements. (iii) The application form seeks details from applicant agencies on their profile, personnel, expertise, infrastructure, experience, accounts, and any negative incidents to assess eligibility as per the criteria laid out. Undertakings are also required from the agency.

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    Emplacement o Agencies under SARFAESI Act

    Original Title

    Empanelment of Agency under SARFAESI Act Format

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    (i) The document outlines eligibility criteria for empanelment of enforcement agencies by banks. Key criteria include Indian citizenship/entity, no disqualifications, convictions or misconduct, possessing necessary documentation and infrastructure. (ii) Additional criteria include a minimum of 3 years experience as an enforcement agency with public sector banks, completing at least 3 assignments successfully in the past 3 years, and meeting other experience, complaint, and registration requirements. (iii) The application form seeks details from applicant agencies on their profile, personnel, expertise, infrastructure, experience, accounts, and any negative incidents to assess eligibility as per the criteria laid out. Undertakings are also required from the agency.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    123 views8 pages

    Empanelment of Agency Under SARFAESI Act Format

    Uploaded by

    P Dhar
    (i) The document outlines eligibility criteria for empanelment of enforcement agencies by banks. Key criteria include Indian citizenship/entity, no disqualifications, convictions or misconduct, possessing necessary documentation and infrastructure. (ii) Additional criteria include a minimum of 3 years experience as an enforcement agency with public sector banks, completing at least 3 assignments successfully in the past 3 years, and meeting other experience, complaint, and registration requirements. (iii) The application form seeks details from applicant agencies on their profile, personnel, expertise, infrastructure, experience, accounts, and any negative incidents to assess eligibility as per the criteria laid out. Undertakings are also required from the agency.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 8

    Eligibility Criteria for empanelment of Enforcement Agncy

    (Proprietorship firms/Partnership firms/Companies/Corporations)

    I. Essential criteria
    Enforcement Agency & the promoter/key personnel /officials should comply
    with the following criteria:
    (i) Indian citizen/ entity constituted under Indian Law.

    (ii) No disqualification such as removal /dismissal from enforcement related service


    earlier or cooling period, if any granted, is not over.

    (iii) Not convicted of any offence and sentenced to a term of imprisonment.

    (iv) Not been found guilty of misconduct in professional capacity or offence


    involving moral turpitude or otherwise,
    (v) Possesses PAN Card / GSTIN as applicable. Possesses appropriate
    infrastructure, supporting information technological systems, professionals and
    consultalts.

    (vi) Not blacklisted by any bank nor any complaint filed against the firm before CBI
    / Serious Fraud Investigation Cell / Court.

    II. Other Criteria:

    (i) Minimum experience of three (3) years with Public Sector Bank(s) as EA
    service provider.

    (ii) Completed at least three (3) assignments successfully as EA with Public Sector
    Bank(s) during immediately preceding 3 years.

    (iii) The experience of Key personnel of the EA firm may be considered in lieu of
    the experience requirement as stated in Other Criteria (i) and (ii) above.

    (iv) No complaints pending against EA and/ or any of its employee/ associates /


    agency etc. before Police and also not involved in court cases especially in the
    matters, which are in deviation to the extant RBI guidelines on EA and scope of
    work indicated by the bank.

    (v) The registration of the agency shall be at least three (3) years old.

    (vi) The promoter/key personnel/ officials of the EAs shall be at least graduates from
    any reputed university in India / abroad. Preference will be given to the Agency
    having Accounting / Engineering / Law Professionals.
    (vii) Adequate knowledge of the provisions of SARFAESI Act, 2002 [including
    subsequent amendments] and also well conversant with the duties of Authorized
    Officer [AO] including support required by them.

    (viii) Conversant with the activities related to taking possession and sale of assets
    under the SARFAESI Act.

    (ix) Possess thorough knowledge of the extant RBI guidelines and also instructions/
    circulars issued by RBI/IIBF/IBA from time to time.
    (Application form for Empanelment of Enforcement Agency)

    1. Name of the Applicant:


    2. Name of the other group
    firm/company, if any
    3. Contact Details
    Established since:
    4.
    Constitution:
    (Whether company / Partnership
    firm / LLP firm / Proprietorship
    concern)
    PAN No.:
    GSTIN No.
    Name of Bankers:
    5. Whether registered under any
    Act
    6. Membership with Professional
    Body (if any)
    7. Whether Registered for Service
    Tax, PF, ESIC, etc.(If so,
    mention numbers & date)
    8. Details of Personnel working in EA:(who are to be engaged in EA activity)
    Sr. Description Name Age Qualification Experience Citizenship
    No (Indian/NRI/
    Foreign)
    a. Name of
    Proprietor /
    Partners /
    Director(s)
    b. Name of key
    functionaries
    9. Area of Expertise (details)
    a. Whether the company is a
    Management consulting firms,
    accounting firms, firms offering
    asset recovery management
    services and NBFCs. Please
    specify;
    b. Please specify and give details
    on expertise in asset recovery
    management services
    10.
    Infrastructure of EA :
    a. No. of persons employed :

    No of partners associated:

    b. No. of persons engaged in EA


    activity

    c. Out of (b) above, no. of


    employees;
    (i) In respect of whom police
    verification has been carried out
    (ii) Conversant with the activities
    related to taking possession and
    sale of assets under the
    SARFAESI Act.
    (iii) Adequate knowledge of the
    provisions of SARFAESI Act,
    2002 [including subsequent
    amendments] and also well
    conversant with the duties of
    Authorized Officer [AO]
    including support required by
    them.
    (iv) Possess thorough knowledge
    of the extant RBI guidelines and
    also instructions/ circulars issued
    by RBI/IIBF/IBA from time to
    time.

    Branch Network of EA Agency:


    d.
    i. State-wise presence (with
    address of offices)
    ii. Number of Branches in each
    State
    [Furnish details viz. addresses,
    phone & fax numbers and email
    ID etc].
    e. Turnover and Profit of the Entity
    Year Turnover Net Profit
    for last 3 F.Y.
    (Rs Lakh)

    11. Details of existing empanelment {Min 3 years with Public sector Banks (PSBs)}:
    Name of the Details of assignment Details of Details of assignments
    client with undertaken [at least 3 assignments completed
    empanelment assignment letters] entrusted
    date (Give brief details) (Give brief details)

    12. Brief details of preceding 3 years experience in EA activity. Please elaborate on the
    experience with Banks (especially with PSBs)/Financial Institutions/NBFC (if any):

    13. References (Details of at least 3 references from Banks/Financial Institutions/NBFCs)

    (i)

    (ii)

    (iii)

    14. Details of account maintained with IDBI Bank Ltd (City wise/Account nos.):

    City Name Account Nos.

    15. Whether the applicant was de-listed from any Banks Panel on earlier occasion. If so,
    furnish details;

    16. Whether the entity has been put in the negative list by IBA/any public sector
    bank/Government organization or any of its clients for breach of applicable laws/violation
    of regulatory prescriptions or breach /deficiency of services. If so, furnish details?

    17. Place for which the agency is applying for Empanelment (Ref. 10.d)
    18. Additional information, if any:
    UNDERTAKING

    I/We,………………………….(name)Son/Daughter of Shri …………., Proprietor/

    Partner/Director of M/s……….., state that the information furnished above is true and correct
    to the best of my/our knowledge. I/We agree, that in the event that any
    concealment/distortion of facts furnished above is brought to notice of the Bank subsequent
    to empanelment/appointment by IDBI Bank Ltd, IDBI Bank Ltd would be at liberty to
    terminate the said empanelment/appointment without notice or damages whatsoever.

    (Signature)
    To be signed by authorized signatory
    Designation
    Enclosures:
    Self Attested copy of following documents:
    (i) Certificates proving Educational qualifications.
    (ii) Experience Certificate.
    (iii) Copy of Registration, if any.
    (iv) Reference Letters.
    (v) Copy of Membership of Professional Bodies, if any.
    (vi) Copy of PAN Card / GSTIN, etc.
    (vii) Address proof.
    (viii) Memorandum and Articles of Association in Case of Companies/Partnership deed in
    case of Partnership Firm.
    Undertaking from EA

    (Notes: (1) To be stamped as an Affidavit in accordance with the local Stamp Law in force in the

    State in which it is sworn/affirmed before the Magistrate; and (2) To be affirmed before a Notary

    Public or a Magistrate or any other person competent to administer oaths, who should affix his

    Official Seal.

    (To be provided at the time of submitting Application form)

    I, ………………….son/daughter of ………………………., am authorized by the ………


    (firm/company) to furnish the below undertaking on behalf of ……………
    (firm/company).
    I, on behalf of …… (firm/company) do hereby solemnly affirm and state that :

    (i) The Firm/Company (also known as “Agency”) is an entity constituted under Indian
    Law and the promoters/partners/key personnel are Indian citizens
    (ii) There has been no disqualification such as removal /dismissal of the agency from
    service earlier
    (iii) The Agency/promoters/partners/key personnel - have not been convicted of any offence
    and sentenced to a term of imprisonment,
    (iv) The Agency/promoters/partners/key personnel have not been found guilty of
    misconduct in professional capacity, or offence involving moral turpitude or otherwise,
    (v) The Agency’s promoters /partners/key personnel are not a un-discharged insolvent,
    (vi) The Agency possesses PAN Card / GSTIN
    (vii) The Agency has not been blacklisted by any bank nor any complaint filed against the
    firm/company before CBI / Serious Fraud Investigation Cell / Court.
    (viii) The Agency shall ensure that there is no any conflict of interest in the assignments
    entrusted by the Bank and if the Agency comes to know of any such conflict of interest,
    they shall disclose the same immediately to the Bank.

    (ix) I on behalf of ………….. (firm/company) undertake to keep the Bank informed of any
    events or happening which would make the agency ineligible for empanelment as a
    Enforcement Agency.
    (x) I have not concealed or suppressed any material information, facts and records and I
    have made a complete and full disclosure.

    Solemnly affirmed at ___________ on ___ the Day ________ 2019


    (Authorised Signatory)
    Deponent
    Identified By Me

    Notary Public

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