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Stock Statement Updation

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terms & conditions

Please accept the Terms and Conditions to proceed:
  • I/We hereby confirm that the details provided are to the best of my/our knowledge. I/We undertake to visit and submit the original documents at Axis Bank Loan Centre as and when required.
  • I/We understand that the Stock Statement for the previous quarter is to be submitted on or before the 10th of the subsequent month. Any delay in submission may attract penalty of upto 2% per annum on outstanding amount from the date of default.
  • I/We hereby confirm that the quantity and quality of stocks and other assets mentioned and hypothecated to the bankers are correct. The said stocks and assets are absolute property of the company and are not subject to any lien, claims and charges whatsoever.
  • I/We hereby confirm that the stocks and other assets mentioned in the Stock Statement have been valued in the same manner and principle as adopted in the audited / certified results.
  • I/We hereby confirm receivables hypothecated to the Bank shown in the Stock Statement are good and do not include any book debts, which in my/our opinion are bad and doubtful of recovery.
  • I / We understand that the Drawing Power set in system and displayed on screen might vary based on the Bank's internal guidelines / policy.
  •  In case of overutilisation due to revised Drawing Power, I/we ensure that the account is sufficiently funded to avoid penalty.
  • I/We hereby confirm that no order of attachment or any notice or process from any court or any statutory authority has been received by the company in respect of the whole or part of the said stocks and assets charged to the Bank.
  • I/We hereby confirm that the above noted stocks and assets are fully insured.
  • I/We hereby confirm that all licenses and registrations required for the conduct of the business are current.
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