Madhya Pradesh Solvency Certificate

Madhya Pradesh Solvency Certificate

Madhya Pradesh Solvency Certificate

In Madhya Pradesh, solvency certificate is a legal document which is issued based on the documents representing the ownership of a property lying in the particular state. Solvency certificate helps to confirm the creditworthiness of an individual and to certify the solvency of a person while requesting for loans from the bank. An individual can obtain solvency certificate from the concerned Collector and Sub Divisional Office. In this article, we look at the procedure for obtaining Madhya Pradesh solvency certificate in detail.

Purpose for Obtaining Solvency Certificate

The following are the various reasons to obtain a solvency certificate in Madhya Pradesh.

  • Solvency certificate is excepted for seeking admission in Government Medical and Engineering colleges.
  • Solvency certificate is also needed for court matters, like obtaining bails.
  • Solvency certificate is claimed as proof of finance in support of education and also helps in visa interviews.
  • Solvency certificate is used as a document of surety by various government and semi-government offices.
  • Solvency certificate helps to know about the individual’s loan-related statements that are obtained from the bank.

Eligibility Criteria

The following eligible persons are required to get solvency certificate are listed out.

  • Any individual is residing in the state of Madhya Pradesh.
  • Any person having his/her land property in Madhya Pradesh state is entitled to obtain a Solvency Certificate or research capacity certificate.

Documents Required

The particular documents are to be furnished along with the application form.

  • Affidavit regarding the correct facts stated in the application form.
  • Verified records about the holding property.
  • Appraisal evaluation report (Land Assessment will be done only according to collector guideline) by property Assessment Report /Authorized Appraiser.
  • Dues on the appellant property (Nodus) / Affidavit.

Processing Time

The complete process for processing your application for solvency certificate will be completed within thirty days from the submission of application.

Concerned Authority

The revenue department which issues which are regulated by the collector and District magistrate will verify the documents and submit his report to the concerned authority of the department that is authorised to issue the Solvency certificate.

Online Application Procedure for Solvency Certificate

Procedures to be followed for obtaining solvency certificate is specified below:

Step 1: Kindly visit the e-District official website of Madhya Pradesh Government.

Step 2: The applicant has to click on “Land and Revenue” tab which is visible on the homepage of the portal.

Madhya Pradesh Solvency Certificate - Image 1
Madhya Pradesh Solvency Certificate – Image 1

Step 3: Select the option “Issue of B-1 Khasraara” from the list which is mentioned under the land and revenue tab.

Madhya Pradesh Solvency Certificate - Image 2
Madhya Pradesh Solvency Certificate – Image 2

Step 4: Click on ”Download” button which is displayed on the current page and then click on “Application letter” link.

Madhya Pradesh Solvency Certificate - Image 3
Madhya Pradesh Solvency Certificate – Image 3

Step 5: On the next page, you have to select the respective department as revenue from the drop-down list.

Madhya Pradesh Solvency Certificate - Image 4
Madhya Pradesh Solvency Certificate – Image 4

Step 6: You need to choose the service from the dropdown list as per your solvency criteria such as

  • Solvency or Research capacity certificate (up to 5 lakhs)
  • Solvency or Research capacity certificate (up to 5 to 25 lakhs)
  • Solvency or Research capacity certificate (above 25 lakhs)

 

Madhya Pradesh Solvency Certificate - Image 5
Madhya Pradesh Solvency Certificate – Image 5

Step 7: If you require solvency certificate for five lakhs and then click on “Research capacity certificate (up to 5 lakhs)” option from the list.

Step 8: The application form for the solvency certificate will be displayed you can also print the form complete the details and submit it manually.

Step 9: If you want to make an online submission then fill the application form with the necessary details such as information related to the applicant (name, father name, the name of the business, resident details).

Step 10: Enter the details of movable or immovable property like property description, market price and then click on “Submit” button.

Step 11: Fill the details of real estate such as Details of its area of land and land revenue or rent, details of the burden, nature of the declaration of rights, market price and then click on “Submit” button.

Step 12: Enter the amount whose research capacity certificate is being sought in the box.

Step 13: You need to make sure at the last whether you have attached all the required documents.

Step 14: After submitting your application an acknowledgement receipt will be received for confirmation of submission.

Issuance of Solvency certificate

Upon submission of duly signed application form along with the supporting documents by the applicant will be forwarded to the concerned designated officer of the department. The process for verification at the Designated Officer Office gets initiated once the application is received through the (e-District) portal. In case of verification, if the details are found to be correct, Designated Officer approves the application by digitally signing the outcome of the process like certificate or document for issuing to the applicant and submits it back to the (e-District) portal. If the details are found to be incorrect, the Designated Officer rejects the application and issues a reason for rejection and submits it back to the e-District Application. In such cases, the Rejection Letter will be issued to the applicant. The final printed out document will have a unique document ID, CSC or LSK ID from where it is being printed and (e-District) portal address printed on it so that anybody with internet access can verify the digitally signed contents. The Digitally signed certificates will be available in the portal, and the same can be searched based on the Unique Registration Number (URN), i.e. Acknowledgement receipt number.

Track Application Status

The application submitted online, and status can be checked by following the steps mentioned below:

Step 1: Click on “Application status” which is present on the home screen of the portal.

Step 2: Enter your acknowledgement number and security captcha and then click on the ”Search” button to view the status of your application.

Post by Karthiga

IndiaFilings is India's largest online compliance services platform dedicated to helping people start and grow their business, at an affordable cost. We were started in 2014 with the mission of making it easier for Entrepreneurs to start their business. We have since helped start and operate tens of thousands of businesses by offering a range of business services. Our aim is to help the entrepreneur on the legal and regulatory requirements, and be a partner throughout the business lifecycle, offering support at every stage to ensure the business remains compliant and continually growing.