SMS 'LAP' to 56677
Helpline: 1800-572-7777
Email: lap@indiabulls.com

Indiabulls Commercial Credit Ltd. (IBCCL)

Overview

 

Indiabulls Commercial Credit Ltd. (IBCCL), incorporated in 2006, is a wholly owned subsidiary of Indiabulls Housing Finance Ltd. (IBHFL) and is classified as a Non-Deposit taking Systematically Important (ND-SI) Non-Banking Financial Company (NBFC).

IBCCL with strong parental support has considerable expertise in mortgage based financing. SME loans, that IBCCL and IBHFL underwrite are in the lowest risk segment where loans are given out to small businesses. IBCCL emphasizes on self-occupied residential properties for collateral, appraising loans which are verified as per cash-flow; and most importantly, loans meant for productive business deployment which has to be demonstrated at the time of loan appraisal - all of which is aimed to help small business owners further their business plans.

At an operational level, although IBHFL and IBCCL operate separately, IBCCL being a wholly owned subsidiary of IBHFL enjoys the facilities and expertise of the consolidated entity, thus giving IBCCL the benefit of strong business processes, the expertise of business personnel, robust underwriting procedures and a prudent risk management approach of the parent IBHFL.

IBCCL enjoys a comfortable capital position as its capital adequacy stands at 41.36% as of Jun' 16. These high capital levels afford substantial operational leverage. This also signifies the confidence that the management has placed on IBCCL as a critical subsidiary for IBHFL.

Board of Directors
  • Mr. Ajit Kumar MittalNon-Executive Chairman
  • Mr. Rajiv GandhiManaging Director and CEO
  • Mr. Anil MalhanNon-Executive Director
  • Ms. Preetinder VirkNon-Executive Director
  • Mr. Satish Chand MathurIndependent Director
  • Mr. Dinabandhu MohapatraIndependent Director


COMPOSITION OF VARIOUS COMMITTEES OF BOARD OF DIRECTORS OF INDIABULLS COMMERCIAL CREDIT LIMITED

(I) Audit Committee

Name of Member Chairperson/Member
Mr. Dinabandhu Mohapatra Chairman
Mr. Satish Chand Mathur Member
Mr. Anil Malhan Member

(II) Nomination & Remuneration Committee

Name of Member Chairperson/Member
Mr. Dinabandhu Mohapatra Chairman
Mr. Satish Chand Mathur Member
Mr. Anil Malhan Member

(III) Corporate Social Responsibility Committee (CSR)

Name of Member Chairperson/Member
Mr. Anil Malhan Chairman
Mr. Satish Chand Mathur Member
Mr. Dinabandhu Mohapatra Member

(IV) Risk Management Committee

Name of Member Chairperson/Member
Mr. Anil Malhan Chairman
Mr. Dinabandhu Mohapatra Member
Mr. Ashish Jain Member

(V) Investment Committee

Name of Member Chairperson/Member
Mr. Ajit Kumar Mittal Chairman
Mr. Rajiv Gandhi Member
Mr. Ashish Jain Member

(VI) Asset Liability Management Committee (ALCO)

Name of Member Chairperson/Member
Mr. Rajiv Gandhi Chairman
Mr. Anil Malhan Member
Mr. Ashish Kumar Jain Member
Mr. Sukhjit Singh Makkar Member
Mr. Subhankar Ghosh Member
Mr. Pankaj Kumar Jain Member
Mr. Anil Kumar Yadav Member

(VII) Bond Issue Committee

Name of Member Chairperson/Member
Mr. Ajit Kumar Mittal Chairman
Mr. Anil Malhan Member
Mr. Satish Chand Mathur Member

(VIII) Stakeholder Relationship Committee

Name of Member Chairperson/Member
Mr. Anil Malhan Chairman
Mr. Satish Chand Mathur Member
Mr. Dinabandhu Mohapatra Member

(IX) IT Strategy Committee

Name of Member Chairperson/Member
Mr. Dinabandhu Mohapatra Chairman of the Committee (Non-Executive/Independent Director)
Mr. Nafees Ahmed Member of the Committee (Chief Information Officer)
Mr. Anil Kumar Yadav Member of the Committee (IT)

(X) Management Committee

Name of Member Chairperson/Member
Mr. Rajiv Gandhi Chairman
Mr. Anil Malhan Member
Mr. Ajit Kumar Mittal Member
Fair Practice Code
Fees and Charges
Description Charges
Processing Fees 1.00% Onwards
Technical /Valuation and Legal opinion charges, SRO search charges, ROC search charges, non-encumbrance certificate from SRO charges Rs 2,500/-
Transaction handling charges in balance transfer / purchase Rs 1,500/-
NACH Dishonor Charges Rs 750/-
Nil on Representation of NACH
Late Payment Charges 24% per Annum of Outstanding EMI
NACH Bank Swapping Charges Nil
Retrieval charges for Copies of loan /property document in IB custody Emailing of Scan Copies: NIL
Physical copies with IB attestation: Rs 500/-
Charges for Physical Statement Of Account / Amortization Schedule. Emailing of Soft Copy by Customer Service Teams : NIL
Hard copies : Rs 200/-
Registration Charges for Borrowers'ECS Mandate (loan repayment) NIL
Interest Certificate NIL
Charges for Certified True Copies of Title Deeds from SRO , if applicable. As per Actual
Stamping charges of loan Agreement As per actual, subject to state laws-
to be borne by borrower
Stamping charges of other legal documents like Indemnity Bond, Legal Undertakings, Legal Affidavits, Personal Guarantee Bond, Power of Attorney etc As per actual, subject to state laws - to be procured by borrower directly
Original property documents retrieval for specific activity like production at SRO or development authority (on borrower request) Rs 5000/-
Database admin fee Rs 650 (inclusive of service tax)
ROI switch fee 50% or onwards of the difference of the two coupon rates i.e. between the existing and revised rate
Service Tax on all fees, as applicable
Benchmark Rate

Indiabulls Commercial Credit Ltd. (IBCCL)

 

  • RMLR
    With effect from 15th Sep;2022 onwards, RMLR is 11.50%
  • RCLR
    With effect from 15th Sep;2022 onwards, RCLR is 13.50%
  • IMLR #
    With effect from 15th Sep;2022 onwards, IMLR is 11.20%
  • ICLR #
    With effect from 15th Sep;2022 onwards, ICLR is 16.40%
  • FRR*
    With effect from 15th Sep;2022 onwards, FRR is 19.10%
  • LFRR**
    With effect from 15th Sep;2022;2022 onwards, LFRR is 23.45%
  • *PLR***
    Prime Lending Rate (PLR) is @24.40% applicable with effect from 10th May; 2022.

  • Note : For existing borrowers, the last revision in Rates will be applicable with effect from 1st October;2022 onwards.
  • #(Company has since discontinued from Aug 2021 sanctioning of fresh Loans quoting the benchmark IMLR & ICLR. This rate is only applicable to old loans sanctioned at IMLR & ICLR respectively)
    *(Company has since discontinued from January 2017 sanctioning of fresh Loans quoting the benchmark FRR. This rate is only applicable to old loans sanctioned at FRR)
    **(Company has since discontinued from February 2018 sanctioning of fresh Loans quoting the benchmark LFRR. This rate is only applicable to old loans sanctioned at LFRR)
    ***(Company has since discontinued from August 2011 sanctioning of fresh Housing Loans quoting the benchmark PLR. This rate is only applicable to old loans sanctioned at PLR)
Loan Against Property

Partnering you in your aspirations

Aspirations to continually grow/expand one's business are what define most businessmen. The importance of realizing these aspirations and actually making progress is integral to many a business. At Indiabulls Commercial Credit, our commitment has always been towards easing the path to success for our customers. Committed to ease this path, Indiabulls Loan Against Property (LAP), a mortgage loan, will take care of your financial needs while you can direct all your attention towards your business. Helping you leverage the value of your residential/commercial property, we will ensure that your enterprise does not feel the crunch of working capital which paralyses many a stable business.

At Indiabulls Commercial Credit, we provide you LAP with maximum finance against the market value of your property. You can continue to occupy the property while we fund you for the healthy growth of your business. We ensure quick approvals and disbursals, safe documentation (ISO certified process) and doorstep service for loans for desired end use. Small and mid-sized businesses, partnership firms, self-employed professionals and private or closely held companies are eligible for LAP.

Key Features

Indiabulls Commercial Credit provides Loans against Property with maximum finance against the market value of your property. Avail Loans against Property for –

  • Business expansion
  • Debt consolidation
  • Converting working capital limit to term loan
  • Purchase of plant and machinery
  • Converting your current loan at an attractive rate of interest
  • Travel, marriage, education and other personal requirements

Some of our salient features are featured below:

  • Quick loan approval & disbursal
  • Safe document storage – ISO certified process
  • Loan transfers with top-ups
  • Doorstep service
Benefits

When you avail a Loan Against Property from Indiabulls Commercial Credit, the following advantages also come your way:

You can generate funds by unlocking the property value along with the benefit of staying in your own home You can tend to your need for immediate personal expenses like: New Business funding or Business Expansion etc. Indiabulls LAP has reasonable interest rates to accommodate your emergencies

Interest Rates

LOAN AGAINST PROPERTY / COMMERCIAL PROPERTY PURCHASE VARIABLE RATE


9.85%* onwards

* MSME's being eligible under Priority Sector Lending

# The final rate of Interest will depend upon Profile, Loan amount, tenor , underlying security and other risk parameters.

Emergency Credit Line Guarantee Scheme(ECLGS)

Pre-approved Top-Up Loan to Business Enterprises and MSMEs

Background and Objective

The outbreak of Covid-19 pandemic and following event of social and economic lockdown has brought about a nearly complete halt to all the business activities. The operating cycle in many businesses witnessed sudden cessation as the stocks and payment cycles got stuck completely causing liquidity crisis posing a serious threat to the survival of the businesses.

In its fight to control further damage and support the revival of the business and the economy, the GOI through Ministry of Finance has introduced the Emergency Credit Line Guarantee Scheme (ECLGS), through which the Government is targeting to facilitate Business Enterprises /MSMEs / Individuals who have availed loan for business purposes through Banks and NBFCs/HFCs to provide additional credit to existing borrowers, thereby enabling these enterprises and MSMEs to meet their operational liabilities and restart their businesses.

Eligible Borrowers

This policy shall be applicable to all existing borrowers meeting the policy riders as elaborated here under and will have components as ECLGS 1.0 , ECLGS 1.0(Extension), ECLGS 2.0, ECLGS 2.0(Extension), ECLGS 3.0, ECLGS 3.0(Extension) and ECLGS 4.0 .

ECLGS 1.0 shall be applicable to the borrower accounts pertaining to Business Enterprises /MSMEs / Individuals who have availed loan for business purposes with total credit outstanding (fund based only) across all lending institutions of up to Rs.50 crores as on 29.2.2020.

ECLGS 1.0(Extension) refers to the scheme for providing additional support to existing borrowers of ECLGS 1.0 or new borrowers eligible under ECLGS 1.0 based on revised reference date of March 31, 2021.

ECLGS 2.0 shall be applicable to the Business Enterprises /MSMEs in the 26 Covid related stressed sectors identified by the Kamath Committee on Resolution Frame-work and the Healthcare sector, who have availed loan for business purposes with total credit outstanding (fund based only) across all lending institutions above Rs.50 crore and upto Rs.500 crore as on 29.02.2020.

ECLGS 2.0(Extension) refers to the scheme for providing additional support to existing borrowers of ECLGS 2.0 or new borrowers eligible under ECLGS 2.0 based on revised reference date of March 31, 2021.

ECLGS 3.0 shall be applicable in case of Business Enterprises / MSMEs in the Hospitality, Travel & Tourism and Leisure & Sporting and Civil Aviation (including scheduled and non-scheduled airlines, chartered flight operators, air ambulances and airports) sectors.

ECLGS 3.0(Extension) refers to the scheme for providing additional support to existing borrowers of ECLGS 3.0 or new borrowers eligible under ECLGS 3.0 based on revised reference date of March 31, 2021.

ECLGS 4.0 shall be applicable to the borrowers running Hospitals/nursing homes/clinics/medical colleges and requiring assistance of upto Rs.2 crore for setting up low cost technologies for on site oxygen generation.

None of the credit facilities availed by the entity from any of the bank or FI should be over 60 days past due as on February 29, 2020 in ECLGS 1.0 , 2.0 & 3.0 and based on the revised reference date of 31st March 2021 in ECLGS 1.0 (Extension) , 2.0(Extension) & 3.0 (Extension) s.t. being eligible under ECLGS 1.0, , 2.0 & 3.0 respectively and should not be over 90 days past due as on March 31, 2021 in ECLGS 4.0.

Key highlights of policy

  • The scheme shall be available for applications getting sanctioned by or before 31.03.2022 or this scheme reaching the threshold stipulated by the Government of India under Emergency Credit Line Guarantee, whichever is earlier.
  • The last date of disbursement under this scheme shall be June 30; 2022.
  • Business Enterprises / MSME borrower must be GST registered where such registration is mandatory.
  • Borrower account should not be over 90 DPD at the time of sanction and disbursement of top up facility under this scheme.
  • ECLGS 1.0 scheme will have Opt-out option & borrower can choose to opt-out for this facility. However ECLGS 2.0 , ECLGS 3.0 & ECLGS 4.0 shall be on Opt-in basis.
  • The amount of funding under ECLGS would be up to maximum 20% under ECLGS 1.0 & ECLGS 2.0 and up to 40% subject to a cap of Rs.200 crore per borrower under ECLGS 3.0 of the total outstanding as on 29th February; 2020 subject to the borrower meeting all the eligibility criteria and credit evaluation and assessment as per lending norms of the company. The borrowers, who are eligible under ECLGS 3.0 and who have already availed benefit under ECLGS 1.0 or ECLGS 2.0 can be eligible for additional credit up to 20% of their total credit outstanding as on 29.02.2020.

    Under ECLGS 1.0(Extension) and ECLGS 2.0(Extension),the amount of GECL funding to existing ECLGS 1.0 or 2.0 borrowers or new borrowers, either in the form of additional loan facility would be up to 30% (enhanced from the present 20%) of their total credit outstanding (net of support received) as on 29th February, 2020 or 31st March 2021, whichever is higher, subject to the borrower meeting all the eligibility criteria in respective scheme components. Under ECLGS 3.0 (Extension), the amount of GECL funding to eligible borrowers would be up to incremental credit eligibility based on outstanding of 29.02.2020 or 31.03.2021, whichever is higher.

    Under ECLGS 4.0, the amount of funding will be limited to Rs.2 crore per borrower for setting up a low cost on-site oxygen generating plant.
  • Total door to door tenor for the new loan will be 48 months with 12 months Principal moratorium in ECLGS 1.0, 60 months with 24 months Principal moratorium in ECLGS 1.0 (Extension),60 months with 12 months principal moratorium in ECLGS 2.0, 72 months with 24 months Principal moratorium in ECLGS 2.0 (Extension) 72 months with principal moratorium of 24 month under ECLGS 3.0 & ECLGS 3.0 (Extension) and 60 months with principal moratorium of 6 month under ECLGS 4.0, from date of first disbursement. Monthly Interest shall be payable during the Moratorium period.
  • No processing Fee will be charged for these loans.
  • The interest rate will depend upon various factors, but will not exceed the maximum Rate of interest prescribed in the guidelines for the respective schemes.
  • No prepayments charges shall be levied for these loans in case of prepayment of facilities before termination of tenor.
  • No prepayments charges shall be levied for these loans in case of prepayment of facilities before termination of tenor.
  • No additional collateral required and additional funding will be covered by extension of charge on securities already provided.
  • All other terms and conditions in loan agreement will remain applicable

For detailed guidelines and FAQs on ECLGS, Visit https://www.eclgs.com/

Disclaimer

This facility is being offered to the eligible borrowers within the scheme guidelines.

Borrower will have to apply for loan through appropriate mode and complete the documentation and furnish the requisite information for processing of the loan.

ICCL will review the application submitted by the interested borrowers and appraise the application keeping in view, inter alia, the credit & risk parameters of the borrower and any other related factors and take the decision accordingly.

The final decision or loan amount and terms of loan may vary, after due appraisal, diligence and verifications.

Investor Relations
Contact details of Compliance Officer
Compliance Officer Ajit Kumar Singh (Company Secretary)
Address :

422B, Udyog Vihar, Phase-IV,
Gurugram, Haryana - 122016
INDIA

Contact No: 0124-6681199
Fax: +9124 6681240
Email: ajisingh@indiabulls.com
 
 
Contact details of Debenture Trustee
Name of Debenture Trustee: IDBI Trusteeship Services Limited
Name of Contact Person: Mr. Ashish A. Naik
Address: Asian Building, Ground Floor,
17, R. Kamani Marg, Ballad Estate,
Mumbai 400001 (Maharashtra)
Contact No: (022) 40807000
Email: itsl@idbitrustee.com
Website: http://www.idbitrustee.co.in/
 
Contact details of Debenture Trustee
Name of Debenture Trustee: Beacon Trusteeship Limited
Name of Contact Person: Ms. Veena Nautiyal
Address: 4C & D, Siddhivinayak Chambers,
Gandhi Nagar, Opp. MIG Club,
Bandra (East), Mumbai - 400051
Contact No: 022-26558759
Email: compliance@beacontrustee.co.in
Website: http://www.beacontrustee.co.in
 
Contact details of Debenture Trustee
Name of Debenture Trustee: Axis Trustee Services Limited
Name of Contact Person: Ms. Mangalagowri Bhat
Address: 2nd Floor, Axis House, Bombay Dyeing Mills Compound
Pandurang Budhkar Marg, Worli,
Mumbai - 400 025 (Maharashtra)
Contact No: (022) 24252525/ 43252525
Email: response@axistrustee.in
Website: http://www.debenturetrustee@axistrustee.com
Corporate Announcement

Indiabulls Commercial Credit Limited

Customer Care

SMS 'LAP' to 56677
Helpline: 1800-572-7777
Email: lap@indiabulls.com

Grievance Redressal Process

Corporate Office:

1. One International Centre,
Tower 1, 18th Floor,
Senapati Bapat Marg,
Elphinstone Road,
Mumbai - 400 013
Contact No: 022-61891000
INDIA

2. 422B, Udyog Vihar,
Phase-IV, Gurugram,
Haryana - 122016,
Contact No: 0124-6681212
INDIA

Registered Office:

5th Floor, Building No. 27,
KG Marg, Connaught Place,
New Delhi - 110 001,
Contact No: 011-43532950
INDIA