LENDING UNDER CONSORTIUM ARRANGE- MENT / MULTIPLE BANKING ARRANGEMENTS - MANDATORY CA CERTIFICATE

In order to strengthen the information sharing system among banks in respect of the borrowers enjoying credit facilities from multiple banks, the banks are required to obtain regular certification by a professional, preferably a Chartered Accountant, regarding compliance of various statutory prescriptions that are in vogue. In addition to Chartered Accountant, banks can also accept the
certification by a Company Secretaries & Cost Accountants.