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Due diligence report format as required by RBI

Due diligence report format as required by RBI

Due diligence report format as required by RBI – Please note that the Reserve Bank of India vide its Circular No. DBOD NO. BP. BC. 46/08.12.001/2008-09 dated September 19, 2008 advised all the scheduled commercial Banks (excluding RRBs and LABs) to obtain regular certification (DILIGENCE REPORT) by a professional, preferably a Company Secretary, regarding compliance of various statutory prescriptions that are in vogue, as per specimen given in the aforesaid notification.

RBI has subsequently vide Circular No. RBI/2008-2009-313/DBOD No. B.P. BC 94/08.12.001/2008-2009 dated December 08, 2008 revised and streamlined the formats.
Subsequently RBI vide its Circular No. UBD.PCBNo. 36/13.05.000/2008-09 dated January 21, 2009 advised all Primary Urban Co-operative Banks to also obtain Diligence Report. The formats have been revised vide RBI Circular No. DBOD.No. BP.BC.110/08.12.001/2008-09 dated February 10, 2009.
<b>Due diligence report</b> format as required by RBI

Due diligence report format as required by RBI

Due diligence report format as required by RBI – I have examined the registers, records, books and papers of Name of Company (“the Company”) as required to be maintained under the Companies Act, 1956 (“the Act”) and the rules made thereunder, the provisions of various statutes, wherever applicable, the provisions contained in the Memorandum and Articles of Association of the Company as well as the provisions contained in the Listing Agreement/s, if any, entered into by the Company with the recognized stock exchange/s (Not Applicable) for the period 1st April, 2013 to 31st March 2014. In my opinion and to the best of my information and according to the examination carried out by me and explanations furnished to me by the Company, its officers and agents. I report that in respect of the aforesaid period:

  1. (a) The management of the Company is carried out by the Board of Directors comprising the following persons :
Sr. No.NameDate of AppointmentDesignation

(b) During the period under review the following changes took place:

(a) The shareholding pattern of the company is as under :

Sr. No.Shareholder’s NameNumber of Shares HeldAmount per shareRemark

(b) During the period under review there was no change in the shareholding pattern of the company.

  1. The company has not altered the provisions of the Memorandum of Association and Article of Association during the period under review.
  1. The company has during the period under review, not entered into transactions with business entities in which directors are interested.
  1. The company has during the period under review, not advanced loans, given guarantees and provided securities to its directors and/or persons or firms or companies in which directors are interested.
  1. The Company has during the period under review, not made loans and investments; or given guarantees or provided securities to other business entities.
  1. The amount borrowed by the Company from directors, members, public, financial institutions, banks and others during the period under review is/are within the borrowing limits of the Company. The break-up of the company’s borrowings is as under:
Name of BankWorking Capital Demand Loan Amount in INRShort Term LoanAmount In INR
  1. The Company has during the period under review, not defaulted in the repayment of any public deposits or unsecured loans and the Company or its Directors are not under the Defaulter’s list of Reserve Bank of India or in the Specific Approval List of ECGC.
  1. The Company has during the period under review, not created, modified or satisfied charges on the assets of the company.
  1. The Forex Exposure and Overseas Borrowings of the company are as under’
ParticularsAmount in INR
Trade Payable 
Trade Receivable 
  1. The Company has not issued, offered and allotted the securities to the persons entitled thereto and has not also issued letters, coupons, warrants and certificates thereof to the concerned persons and also not redeemed its preference shares/debentures and bought back its shares (wherever applicable) in compliance with the specified procedures and within the stipulated time.
  1. The Company has insured all its assets including the secured assets.
  1. The Company has complied with the terms and conditions, set forth by the lending institution at the time of availing the facility and also during the currency of the loan and has utilized the funds for the purposes for which these were borrowed.
  1. The Company has not declared and paid dividends to its shareholders during the period under review.
  1. The Company has paid all its statutory dues and that there are no arrears.
  1. The Company is a private company which is not a subsidiary of a public Company, hence the provisions stipulated in Section 372 A of the Companies Act in respect of its Inter Corporate loans and Investments were not applicable during the period under review.
  1. The Company has complied with the applicable and mandatory Accounting Standards issued by the Institute of Chartered Accountants of India.
  1. The Company was not required to transfer amounts in unpaid dividend account, application money due for refund, matured deposits, matured debenture and the interest accrued thereon which have remained unclaimed or unpaid for period of seven years to investor education and protection fund.
  1. As per the information given to me there were no prosecutions initiated against or show cause notices received by the company for alleged offences under the Act and there were no fines and penalties or any other punishment imposed on the Company.
  1. The Company being unlisted public Company, compliance with the various clauses of the Listing Agreement, is not applicable.
Place : Date : 26/10/2015Signature : 
  Name of Practicing Company Secretary :Mr. _________________ Membership No: _____________
 C.P. No.: ____________

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Due diligence report format as required by RBI

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