THE COSMOS CO-OPERATIVE BANK LTD.

, PUNE
(MULTISTATE SCHEDULED BANK)
Malad East Branch: Shop 1,2 &3, Khandwala Lane, Off Daftari Road, Final Plot No.51 & 52, Malad East,
Mumbai – 400 097 Tel.: 022-2883 1014/ 2881 0731
COSMOS HOME LOAN SCHEME
Recommendation note for Home Loan
Date of Application '10.10.2023
Loan Requirement Rs.35,00,000/- (Rs. Thirty Five lacs Only)
Priority/Non Priority Priority
Weaker Section No
Branch Name Malad East Branch
Sanctioning Authority Chief Manager, Malad E + Manager, Loan Processing Cell
Borrower Mr. Amit Ratanprakash Jain
Co-Borrower Mrs. Shilpa Amit Jain
Guarantor Mr. Chetan Ratanlal Chaplot
Reference Mr. Chetan Ratanlal Chaplot (Existing Customer)
Mr. Amit Ratanprakash Jain & his wife Mrs. Shilpa Amit Jain has approached our Malad East Branch for
credit facility and submitted the necessary documents of Home Loan. We have checked/verified the docu-
ments. The detailed recommendation in this regard is as below:
BORROWER'S DETAILS:
Name of the Borrower Mr. Amit Ratanprakash Jain
Customer ID '04614703
Communication Address A/2, 206, Sumangalam Apartment, Near Western Inn Hotel, Opp. D
(Rental) Mart, Bhabhola Naka, Vasai West, Palghar (Rent agreement from
01.08.2023 to 30.07.2025 is obtain on record.)
Address as per Aadhar Card Ratanprakash, 25, Shiv Nagar Society, Udhana, Surat 394210
DOB & Age 05.07.1987 / 36 Years
PAN No. AIZPJ8343A
AADHAR Card No. 3146 5260 9176
Contact No. 7499437146
Occupation Service
Employer Name Profilic Finserv
Employr Address B-220, 2nd Floor, Royal Shopping Center, Near Manickpur Police Sta-
tion, Ambadi Road, Vasai West, Palghar – 401202.
Present Work Place 402, 4th Floor, Hirji Heritage, Above TBZ Jewellers, LT Road, Borivali
West, Mumbai - 400092
Official Email ID [email protected], [email protected]
Emp ID / Date of Joining '0008/10.02.2023
Department /Designation Sales Head
Salary for the Month September 2023-Gross:Rs.75,000/-Net:Rs.71,250/-
August 2023-Gross:Rs.75,000/-Net:Rs.71,250/-
July 2023-Gross:Rs.75,000/-Net:Rs.71,250/-
Average Monthly Salary Net:Rs.71,250/-
ITR /Form 16 ITR AY 2023-24 : Rs. 12,43,630/-
ITR AY 2022-23 : Rs. 6,48,680/-
ITR AY 2021-22 : Rs. 5,62,600/-
Membership/NM No. N046230126
Home Loan -:Mr. Amit Jain & Mrs. Shilpa Jain:- Page 1
Bank Account Details: Mr. Amit Jain is maintaining salary saving account no 0197104000111195 with
IDBI Bank, Vasai Main Road Branch. We have verified the bank's statement by visiting bank and the cus-
tomer is maintaining the satisfactory average balance and there are regular salary credits in the Account.

CIBIL Details: CIBIL Control No.6547899719 is generated on 06.10.2023 Cibil Creditvision score is 753
and Personal score is 764. As per CIBIL report, total 9 accounts are reflected out of which 6 accounts are
shown zero balance & details of remaining 3 accounts are as follows:
Sr CIBIL observation Current Status
1 Housing Loan of Rs.24,316/-, EMI is Loan for insurance taken for home loan in joint capacity
Rs.500/- & Current Balance is with her wife Mrs. Shilpa Jain from IDBI Bank. Santion letter
Rs.21,378/- is obtained on record. Repayment of loan is regular.
2 Housing Loan of Rs.18.00 lacs, EMI Home loan in joint capacity with her wife Mrs. Shilpa Jain of
is Rs.15,237/- & Current Balance is Rs.18.00 lacs @8.50% for 288 months is taken from IDBI
Rs.17,86,626/- Bank. Santion letter is obtained on record. Repayment of
loan is regular.
3 Credit Card with Credit Limit of Current balnace is Rs.15,730/-. Repayment of loan is
Rs.20,000/- regular.
Repayment of existing loans are satisfactory & regular. He has purchase residence property situated at
Flat no.403, 4th Floor, B Wing, Opp. Khoja Masjid, Vevoor, Palghar 401404 for investment purpose. Cur-
rently the said property is on rental basis on mutual understanding with tenents.
In, 2014, Mr. Ratanprakash Jain (father of Mr. Amit Jain) availed personal loan of Rs.2.50 lacs from HDB Fi-
nance which was not paid by him regularly. When Mr. Amit Jain notice the same, he has paid all loan
amount & settle the account. The said account shows closed status. Declaration from Mr. Amit Jain for the
said loan is obtain on record.

COMPASS Details:
Campass Date Name Status
'11.10.2023 Mr. Amit Ratanprakash No Adverse Remark Found

Aadhaar and PAN Authentication Details and Electricity Bill Verification:-

Card No Status
Aadhaar 314652609176 Name on Aadhaar Card, Gender, Date of Birth are exact matched wtih
No Aadhaar Card submitted by the Appliacant (Authenticated as per site)
PAN No AKRPC1540Q PAN card Details as per PAN site are Valid.
ITR AY 2023-24 The ITR's have been send to Siddha Consultants for verification
Verificatio AY 2022-23 purpose on 10.10.2023. As per report, ITR's are correlated with
n Details AY 2021-22 income tax site.

CO-BORROWER'S DETAILS: Mrs. Shilpa Jain is wife of Mr. Amit Jain

Name of the Borrower Mrs. Shilpa Amit Jain
Customer ID '04614704
Communication Address A/2, 206, Sumangalam Apartment, Near Western Inn Hotel, Opp. D
(Rental) Mart, Bhabhola Naka, Vasai West, Palghar (Rent agreement from
01.08.2023 to 30.07.2025 is obtain on record.)
Address as per Aadhar Card B-305, Milan Apartment, Dindayal Nagar, Manikpur, Vasai West, Pal-
ghar 401202
DOB & Age 22.02.1987 / 36 Years
PAN No. AKRPC1540Q
AADHAR Card No. 3896 4138 7747
Contact No. 8080360092
Occupation Self Employed
Business Profile Mrs. Shilpa Jain provide financial consultancy service & accounting
works since 2015. She operate her business from her residence place.
Her husband works for Financial company which help her to create
her client base.

Home Loan -:Mr. Amit Jain & Mrs. Shilpa Jain:- Page 2
Income as per ITR ITR AY 2023-24 : Rs. 5,10,000/-
ITR AY 2022-23 : Rs. 3,41,940/-
ITR AY 2021-22 : Rs. 4,18,820/-
Average Monthly Income Rs.35,298/-
Membership/NM No. N046230127

Bank Account Details: Mrs. Shilpa Amit Jain is maintaining Saving Account with IDBI Bank, having Sb
A/c No. 0197104000100649. We have verified the bank's statement by visiting bank and the Customer is
maintaining the satisfactory avarage balance

CIBIL Details: CIBIL Control No.6547955772 is generated on 06.10.2023 CIBIL Creditvision score is 801
and Personal score is 806. As per CIBIL report, total 9 accounts are reflected, out of which 6 accounts are
shown zero balance, 2 are home loan & one is overdraft accounts. Repayment of existing loans are
satisfactory & regular.

COMPASS Details:
Campass Date Name Status
'11.10.2023 Mrs. Shilpa Amit Jain No Adverse Remark Found

Aadhaar and PAN Authentication Details and Electricity Bill Verification:-

Card No Status
Aadhaar No 3896 4138 Name on Aadhaar Card, Gender, Date of Birth are exact matched wtih
7747 Aadhaar Card submitted by the Appliacant (Authenticated as per site)
PAN No AKRPC1540Q PAN card Details as per PAN site are Valid.
ITR AY 2023-24 The ITR's have been send to Siddha Consultants for verification
Verification AY 2022-23 purpose on 10.10.2023. As per report, ITR's are correlated with
Details AY 2021-22 income tax site.

About Demand: Applicant Mr. Amit Ratanprakash Jain & his wife Mrs. Shilpa Amit Jain have approached
us for home loan of Rs.35,00,000/- for the period of 240 months towards purchase of Flat no. 202, 2 nd
Floor , K B C Heritage, constructed on the land bearing Survey no. 205, Hissa No.10, Situated at Village
Sandor, Taluka Vasai Palghar thus having prominent location & marketable tittle.

Purpose of Loan: Mr. Amit Ratanprakash Jain & his wife Mrs. Shilpa Amit Jain have approached us for
home loan of Rs.35.00 lacs. Currently they are residing on rental basis & purchase new property for own
residence purpose.

Property Details (about property being purchased):

Address of the Property Flat no. 202, 2nd Floor, K B C Heritage, constructed on the land bearing
Survey no. 205, Hissa No. 10, Situated at Village Sandor, Taluka Vasai
Palghar.
Area (in sq. ft) 575 Sq Ft. Carpet Area (2 BHK)
Date of Agreement 27th September 2023
Registration Details Haveli No., Regd. No. - VSI-1/12856/2023
Name of the Seller M/s KBC Developers
Name of Reg. Owners Mrs. Shilpa Amit Jain & Mr. Amit Ratanprakash Jain
Cost of Flat/Property Rs.45,00,000/-
Stamp Duty Rs.3,15,000/-
Registration Cost Rs.30,000/-
Total Consideration Rs.48,45,000/-
Payment made Rs.13,45,000/- (Rs.10,00,000/- + Rs.3,15,000/- + Rs.30,000/-)
Payment to be made M/s KBC Developers
Loan requirement Rs.35,00,000/-

Home Loan -:Mr. Amit Jain & Mrs. Shilpa Jain:- Page 3
Borrowers Contribution/margin 27.76% in Banks Favour

As per architect report from James Dias dated 06.10.2023, total work completed on site is 78%.

Details of Margin Money Paid: We have checked & confirmed following margin payment with IDBI Bank
statement of Mr. Amit Jain & also confirm the same transaciton with IDBI bank.
Date From Account Bank Mode Amount
'03.12.2022 Mr. Amit Jain IDBI Bank Chq no. 353258 Rs. 3,45,000/-
16.12.2022 Mr. Amit Jain IDBI Bank Chq no. 353259 Rs. 6,55,000/-
Total Rs.10,00,000/-

Details of Future Demand: As per sale agreement executed between M/s KBC Developers (Builder) and
Mr. Amit Jain (Borrower) & Mrs. Shilpa Jain (Co-Borrower), they have to pay Total Rs. 48,45,000/- (includ-
ing Stamp duty & registration fees). Now Borrower has paid Rs. 13,45,000/-(including Stamp duty &
registration fees) & remaining fund of Rs.35,00,000/- will pay through bank finance.

Visit Details:
1. Visit to the proposed security located at Flat no. 202, 2nd Floor, K B C Heritage, constructed on the
land bearing Survey no. 205, Hissa No. 10, Situated at Village Sandor, Taluka Vasai Palghar is done
by Mr. Pranit Jadhav (Asst. Manager, Malad E Br.) on 05.10.2023
2. Visit to residence of Mr. Amit Jain (Borrower) & Mrs. Shilpa Jain (Co-borrower) situated at A/2,
206, Sumangalam Apartment, Near Western Inn Hotel, Opp. D Mart, Bhabhola Naka, Vasai West,
Palghar is done by Mr. Nikhil Gawande (Clerk, Malad E Br) & Mr. Pranit Jadhav (Asst. Manager,
Malad E Br.) on 10.10.2023.
3. Visit to Office of Mr. Amit Jain (Borrower) situated at 402, 4 th Floor, Hirji Heritage, Above TBZ Jew-
ellers, LT Road, Borivali West, Mumbai - 400092 is done by Mrs. Pooja Mithbhavkar (Chief Man-
ager, Malad E Br.) & Mr. Pranit Jadhav (Asst. Manager, Malad E Br.) on 19.10.2023.
4. Visit to residence of Mr. Chetan Ratanlal Chaplot (Guarantor) situated at B-305, Milan Apartment,
Dindayal Nagar, Near Post Office, Manickpur, Bassein Road, Vasai 401202 is done by Mr. Nikhil
Gawande (Clerk, Malad E Br) & Mr. Pranit Jadhav (Asst. Manager, Malad E Br.) on 11.10.2023.
5. Visit to Office of Mr. Chetan Ratanlal Chaplot (Guarantor) situated at Shop No. 01, Malmatta 1971
A, Opp. Cardinal Hospital, Vasai West, Palghar 401202 is done by Mr. Nikhil Gawande (Clerk,
Malad E Br) & Mr. Pranit Jadhav (Asst. Manager, Malad E Br.) on 11.10.2023.

I] Title Report/ Advocate's opinion:

Legal opinion of Panel advocate SGM & Associates dated 07.10.2023 of property situated at Residential
Flat no. 202, 2nd Floor, K B C Heritage, constructed on the land bearing Survey no. 205, Hissa No. 10, Situ-
ated at Village Sandor, Taluka Vasai Palghar. According to the report/opinion the said property can be ac-
cepted as security SUBJECT TO submission of following documents before disbursement.
Requirements Compliance
1. Original registered Agreement dated 27th Sep- Will be Obtained on record before disbursement
tember 2023 executed between Mr. Rajkumar
alies Rajmal Bhavarlal Chaplot Proprietor of
M/s KBC Developers as the Promoters and
Mrs. Shilpa Jain & Mr. Amit Jain as the “Pur-
chaser” registration serial No. VSI-1-
12856/2023 dated 27th September 2023 & In-
dex II extract.
2. Copy of latest property tax as and when issued Will be Obtained on record in due course
by the concerned autority
3. Copy of Occupancy Certificate as & when is- Will be Obtained on record in due course
sued by the concerned autority
4. Obtain No Objection Certificate from the Pro- Original NOC to mortgage flat in favour of our
moter to the mortgage. bank from M/s KBC Developer on 08.10.2023 has
obtained on record.
5. The bank charge lien in the records of the pro- Will be Obtained on record before disbursement
moter

Home Loan -:Mr. Amit Jain & Mrs. Shilpa Jain:- Page 4
 6. The Bank charge lien at Sub Registrar office, at The Bank charge lien at Sub Registrar office, at Va-
Vasai by way registered mortgage or Notice of sai by way of Notice of Intimation of mortgage by
Intimation of mortgage by way of deposit of ti- way of deposit of title deed will be done after dis-
tle deed within 30 days of sanction letter. bursement

J) Calculation of FOIR:
A) EMI for existing Home Loan of : Rs.15,237/-
Rs.18 Lacs/- 240 months @8.15%p.a.
EMI for existing Home Loan of
Rs. 24,316/- 60 months : Rs. 500/-
EMI for Proposed Home Loan of
Rs. 35 Lacs/-240 [email protected]%p.a : Rs.28,841/-
-------------------
Total Obligation (A) : Rs.44,578/-

B) Borrower's & Co-Borrower's net avg. monthly income

Mr. Amit Ratanprakash Jain : Rs.71,250/-
Mrs. Shilpa Amit Jain : Rs.35,298/-
-------------------
Total Net income (B) : Rs.1,06,548/-

C) FOIR (A/B x 100) : 41.84%

Note : As per CIBIL Report, presently Applicant Mr. Amit Jain & Mrs, Shilpa Jain is availing home loan fa-
cility from IDBI bank, hence we have consider proposed home loan EMI with existing home loan EMI in
total obligation for FOIR calculation.

GUARANTOR'S DETAILS:
Name of the Guarantor Mr. Chetan Ratanlal Chaplot
Customer ID '0994310
Communication / Perma- B-305, Milan Apartment, Dindayal Nagar, Near Post Office, Manickpur, Bas-
nent Address sein Road, Vasai 401202
DOB & Age 02.08.1991 / 32 Years
PAN No. AKRPC1542N (PAN card Details as per PAN site are Valid)
AADHAR Card No. 2816 8827 8951 (Authenticated as per site)
Contact No. 9869242062
Occupation Business
Business Name Shree Ceramics Plaza
Constitution Proprietory
Business License 27AKRPC1542N1ZV
Business Address Shop No. 01, Malmatta 1971 A, Opp. Cardinal Hospital, Vasai West, Palghar
401202 is done
Business Since 12 Years
Business Details Trading of Ceramics, Marble & Cements
Income as per ITR AY. 2023-24 : Rs.8,83,960/-
AY. 2022-23 : Rs.6,45,000/-
Average Monthly Income Rs.63,706/-
COMPASS Status No Adverse Remark Found as per report
Membership/NM No. M-120916

COMPASS Details:
Campass Date Name Status
'12.10.2023 Mr. Chetan Ratanlal Chaplot No Adverse Remark Found
Home Loan -:Mr. Amit Jain & Mrs. Shilpa Jain:- Page 5
Aadhaar and PAN Authentication Details and Electricity Bill Verification:-
Card No Status
Aadhaar 2816 8827 8951 Name on Aadhaar Card, Gender, Date of Birth are exact matched
No wtih Aadhaar Card submitted by the Appliacant (Authenticated as
per site)
PAN No AKRPC142N PAN card Details as per PAN site are Valid.
ITR AY 2023-24 The ITR's have been send to Siddha Consultants for verification
Verificatio AY 2022-23 purpose on 10.10.2023. As per report, ITR's are correlated with
n Details AY 2021-22 income site.

Merits of the Proposal:

1. FOIR is 41.84%
2. Borrower Margin is 27.76%
3. Th Property is being situated in the Prime Location of Vasai West Area
4. The Future growing Valuation of the property
5. Future business reference from Mr Amit Jain

Deviation: Considering for the increase in the limit of the agreement value of Rs. 45.00 Lacs with respect
to the ready reckoner rate value of Rs.24.11 lacs for the home loan of Rs.35.00 lacs of Mr. Amit Ratan -
prakash Jain & Mrs. Shilpa Amit Jain is obtain on record from DGM, Retail Credit on 12.10.2023
1.

Recommendation:
Home Loan (New) Rs.35,00,000/- (Rs. Thirty Five Lakh Only)
Margin in Bank's favors Rs.13,45,000/- (ie 27.76%)
EMI Rs.28,841/- per month
Rate of interest 7.80% p.a.
Repayment period 240 Months
Security Flat no. 202, 2nd Floor, K B C Heritage, constructed on the land bear-
ing Survey no. 205, Hissa No. 10, Situated at Village Sandor, Taluka
Vasai Palghar. (Agreement value of Rs.48,45,00,000/-, including
stamp duty & registration)

General terms & Conditions:

1. Loan agreement for limit to be sanctioned will have to execute by applicant & guarantor.
2. All legal compliance should be done as per our legal opinion.
3. Property at Flat no. 202, 2nd Floor, K B C Heritage, constructed on the land bearing Survey no. 205,
Hissa No. 10, Situated at Village Sandor, Taluka Vasai Palghar will be mortgage in favor of The Cos-
mos Co-operative Bank Ltd. by way of Equitable Mortgage by filling notice of intimation.
4. Loan will be disbursed directly to the Builder as per state of construction after confimation of the
paymment of entire margin money and subject to inspection of the bank officials. Architect certifi-
cate/builders demanr letter for the stage of construction should be submitted for every disbursal
and Loan will be directly disbursed in favour of M/s KBC Developers.
5. Under Statutory requirement, bank will have to register charge with Central Registry of Securitisa-
tion Asset Reconstruction and Security Interest of India (CERSAI) also on assets given as a security
for the credit limits sanctioned. You will have to bare charges for the same as per the prescribed
schedule of CERSAI + taxes as applicable.
6. Mortgaged property must be fully insured in Bank's favour and Insurance premium must be borne
by the Borrower.
7. All the processing, agreement & adhesive charges will be borne by the borrower.
8. Membership of our bank should be obtained in the name of applicant and necessary formalities
should have to be completed.
9. Possession letter from builder should be obtained on record after disbursement.
10. Entire Margin money payment will have to be confirmed before disbursment.
Home Loan -:Mr. Amit Jain & Mrs. Shilpa Jain:- Page 6
 11. The borrower shall give six post-dated cheques to discharge the loan liability to the extent of the
amount mentioned in the cheques with assurance & promise that the said cheques would be hon-
ored on presenting them on the due date. The said cheque or cheques are not given as security for
the loan, undertaking to this effect should be submitted. The cheque must be drawn exclusively in
the name of “The Cosmos Co-operative Bank ltd, loan account Mr. Amit Jain.
12. All terms and conditions of Cosmos Home Loan Scheme as amended from time to time will be ap-
plicable.

Prepared & Recommended By

Mr. Pranit Jadhav

Asst Manager, Malad E Br.

Home Loan -:Mr. Amit Jain & Mrs. Shilpa Jain:- Page 7