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Solvency certificate


greenthinker

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hey ppl,

I am from india ..... I heard that CA(charter accountants) are also eligible to give solvency certificates :confused: ..... Is this TRUE :hmm: .... Please tell me if U have done it or heard some1 else doing it ...... If possible can some1 give me a link for solvency certificate by CA... than in Advance:tup:

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hey ppl,

I am from india ..... I heard that CA(charter accountants) are also eligible to give solvency certificates :confused: ..... Is this TRUE :hmm: .... Please tell me if U have done it or heard some1 else doing it ...... If possible can some1 give me a link for solvency certificate by CA... than in Advance:tup:

 

dear friend ,

 

A solvency certificate is a statment of your bank about you (client) stating that Mr/ms AAAA is solvent upto (for) the amount of $$$$. Your bank can arrive at this conclusion by referring to your (sponsorers) account and clubbing your (sponsorers) Fixed deposits (CD) and saving deposits plus your government bonds and property (movable/immovable). The Banker will issue a cetificate of solvency based on and to the amout that you (or sponsor) poseeses either in liquid or as a fixed assets.

 

If you need to tweak things a bit, and your banker is reluctant to issue you a solvency certificate solely based upon your records, then you can seek refuge to a CA and in turn he might communicate with the bank on you behalf and help you in getting a certificate. ( and get fees for his job)

 

but a word of caution from an experienced person :

 

You can get a solvency certificate by hook or by crook in India, if you are bent on it. But ensure that you really have the funds (it gives me a feeling that you are a bit short) if you do not get funded for your pogram it could land you in susequent semesters.

 

There is a good facility for student loan at all nationalised banks back home in india, check that out. I had availed a loan of Rs 4 lac (as uptil that amount you need no mortgage gurantor etc), but I got funded and I need no disburse the loan now.

 

It was a long post i hope you bother to read it full.

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Yes coolpaggy i have read both of ur post ...this one and tution fee too ... the thing is that my deadlines are up and i was too lazy to get it done faster ........... and now the bank says it will take 15 days more .... so i was not meeting up my deadline ....so was asking for CA information ... if CA could do it without bank permission it would have been faster ...... THnx for the information
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