Published On : Fri, Oct 30th, 2015

“Significance of Project Report Important in evaluation & funding” – Said D.K. Sood at ICAI

Culture is an important part of our country. Just like good culture passes from our seniors, good practices should also pass from seniors & should be adopted by the youngsters said D.K. Sood, DGM, Union Bank of India. He was speaking as the Chief Guest in Full Day Seminar on Project Finance organised by Nagpur Branch of ICAI. He further said that It’s  right time to organize such seminar because our economy is expected to grow in near future. Politically Nagpur is very strong presently which can be helpful for the growth of Vidarbha.

There has been drastic change in government rules which is again beneficial for the industry. Bankers should take quick decision which will again be beneficial for entrepreneur. Bankers should decide terms & conditions before discussing with the entrepreneur. Duly essential & flexible terms & conditions should be implied. Banks are given target under MUDRA loan for development of small Entrepreneur. CA’s can be of great help in connecting between needy & deserving entrepreneur and banks. It’s time to create awareness amongst common man, he added.

Earlier, Chairman of Nagpur Branch CA. Kirti Agrawal in her welcome address mentioned that now-days various new practitioners are attracted towards the field of Project Finance. Chartered Accountants are an important link between the client and a banker. It is very important that as a consultant we should be in a position to do justice with our work. For that we should update ourselves with latest development on regular basis.

In the 1st Technical Session CA. O.S. Bagdia has made people aware of various legal Regulations, licence and clearances need to be obtained before approaching bank for financing of funds of the registrations which different entities need to be obtained.

CA. Sitaraman Iyer has made people learned about how to prepare project report, what are various ratio and analysis a CA needs to understand before opportunity banks. What are objectives of preparing a project report and various assets it should include in the project report. He also speaks about technical and economical feasibility of the project.

In the second technical session CA. Samir Bakre has explained members about various modes of financing through which loans can be obtained difference between long term and short term funds. Before approaching banks how a detailed analysis has to be done of entity covering  his historical aspect etc.

CA. Swapnil Ghate, Vice Chairman co-ordinated the proceedings and CA. Sandeep Jotwani, Secretary proposed a formal vote of thanks.

Prominently present were CA. Sudhir Surana, CA. Meera D’souza.  CA. R. Parakh, CA. Siddhanath Mishra, CA. Abhishek Maheswari, CA. Vijaya Bothra, CA. Sneha Modani.