Tuesday, August 30, 2016

What is Solvency Certificate ? How to obtain it?

Solvency Certificate

Introduction : The solvency certificate is required for seeking admission in Govt. Medical and st1:place>Engineering Colleges. It is also required for Court matters, like obtaining bails. The certificate is required as a document of surety by various Govt. and semi-Govt. offices. The solvency certificate is issued on the basis of the documents showing ownership of flats/lands in Mumbai City.

    Under What Act/Rules/Govt. orders the Certificate is issued : Govt. of Maharashtra, Revenue and Forests Deptt. Letter No.MMC/1072/196859/G-2/ dt. 2.11.72
    Whom to apply : Collector of Mumbai City (Survey Branch),Old Custom House, Shahid Bhagatsingh Marg, Fort, Mumbai 400 001.
    How to apply :Application to be made in the prescribed form Affix Court Fee Stamp of Rs.5/- on the application
    What documents to attach : Xerox copy of Agreement of ownership Flats/shops situated in Mumbai City District duly attested
        In case of flat :
            a) Xerox copy of share certificate issued by the society
            b)Societies letter stating that:
                The flat is free from all incumbrances
                The flat is on ownership basis
                Area of the flat in sq.ft./sq.mtr
                Duration of stay of member
                The flat is free from litigations & incumbrances
            Xerox copy of Ration Card/Telephone Bill/Electricity Bill
            Affidavit on Rs.20/- stamp paper stating that :
                The flat is free from all incumbrances attachment, acquisition, mortgage etc.
                Area of the flat in sq.ft./sq.mtr
                The flat is free from litigations
        In case of land:
            a) Xerox copy of conveyance deed duly attested
            b) Xerox copy of assessment bill
            c) Affidavit on stamp paper of Rs.20, stating that:
                i)The land is free from all incumbrances, attachment, acquisition, mortgage etc.
                ii) No litigation is pending in Court of law
                iii) C.S. No., Revenue Division and area of the land
    Where to submit the Application - Single window, Ground floor, Old Custom House
    Time limit within which the certificate will be delivered - 7 days
    Complaint Redressal authority - Collector office Mumbai City

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