Tamil Nadu Solvency Certificate
Tamil Nadu Solvency Certificate
In finance or business, solvency refers to the ability of an individual or a corporation to meet its debts. Solvency certificate is issued to borrowers whose current assets exceed his/ her current liabilities certifying his ability to meet the long-term financial debts. In this article, we look into the procedure of obtaining the Tamil Nadu Solvency Certificate in detail.
Purpose of Certificate
- Solvency certificate is necessary for getting contracts and for participating in an auction or tenders.
- Various Government and semi-Government offices require solvency certificate as a document of surety.
- Moreover, this certificate is necessary while seeking admission in Government medical and engineering colleges. Also, it requires court matters like obtaining bails.
The Revenue Department is the concerned department for the issuance of the solvency certificate. The applicant requesting for the solvency certificate should apply to the Tehsildar of the concerned District, which is the competent authority.
Documents Required for Tamil Nadu Solvency Certificate
To obtain the solvency certificate, furnish the following documents along with the application.
- Solvency proof of the applicant
- Encumbrance certificate on the property in original obtained from the Sub-Registrar’s office for 13 years.
- Latest Guideline value statement (to determine the value of the land)
- Liability amount certificate
- Mortgage certificate
- Property Tax receipt or Land Revenue Receipt
- Chitta or Patta
- Building value
- Lease agreement
- Self-declaration of applicant
- Passport size photographs
The Tehsildar is responsible for processing the application and issues the certificate within 15 days on satisfaction.
In other cases, the certification rejection also occurs, and the reasons for rejection will be specified to the applicant.
- The officials shall be more vigilant and take all precautionary measures to avoid defects while issuing the solvency certificate.
- The solvency certificates issued to the forest contractors should be countersigned by the District Revenue Officers that can be done after verification wherever needed.
- Collectors/District Revenue Officers should undertake a random check of solvency certificates to eliminate malpractice in their issue.
Affix court fee stamp of the value of Rs.10 on the application if applying offline. If the solvency certificate is required for the value of Rs.50,000, a sum of Rs.100 should be paid. For the value of every additional Rs.50,000, a sum of Rs.200 should be made in the Treasury.
The Solvency Certificate issued in Tamil Nadu is valid for six months from the date of issue.
To apply for the solvency certificate, proceed with any of the following steps:
Offline application process
The applicant requesting for the solvency certificate should visit the nearby Tehsildar office in their concerned District. The application form should be collected and filed properly providing all necessary details. Once filled, the form should be submitted to the Chief Officer in Charge of Revenue Administration of the concerned District, Sub-division/Tehsil or the Additional District Magistrate / Additional Tehsildar along with the mentioned documents.
The copy of the request form for the solvency certificate is provided below.solvency certificate Application Form
On submission of the application, the Revenue Inspector will enquire the following on the applicant’s request.
- Whether he is a resident of the address in the application.
- Whether the properties are in his name independently or jointly with others, if jointly, the share of the applicant regarding the records should be assessed. Village accounts should be verified.
- Solvency Certificate is only for immovable properties and not for movable like Motor Car, etc.
- Encumbrance certificate for 13 years should be obtained. Any mortgage or other similar action in the Nationalised Bank does not find a place in the certificate. Proper enquiry concerning the original documents should be conducted.
- The guideline value for the land and the structural value certified by a registered Engineer for the buildings can be considered. The value of the structure should be based on scheduled rates prescribed by PWD.
- Personal Inspection of properties by the Tahsildar/Deputy Tahsildar in case of the reasonably higher amount is advisable.
- If there is a mortgage or loan on the property, the amount due on the said mortgage/loan can be deducted from the total value before issuing the certificate.
Online application process
To apply online, the applicant should follow the steps given below.
STEP 1: Go to the e-Sevai web portal (Government of Tamil Nadu) for online services.
STEP 2: Enter the login credentials and select the Operator Type field.
STEP 3: Enter the Captcha code and click on login.
STEP 5: Click on Services on the left panel.
STEP 6: Click on the Revenue Department. Also, switch to the Service Wise listing, or switch to Search and search a particular service using keywords.
STEP 7: Click on Solvency Certificate.
STEP 8: Click on Proceed to continue.
The applicant Search form will appear. Perform a search using the following options:
- Applicants CAN Number
- Applicant Name
- Applicant Father Name
- Applicant Mobile Number
- Applicant Email Id
- Applicant Date Of Birth
An applicant can apply for the Solvency Certificate only if he/she has a unique CAN number. If the applicant does not have a unique CAN Number, he must register for CAN to access the application form for Solvency Certificate.
Registering for CAN (Citizen Access Number)
STEP 1: Click on the ‘Click here’ link to apply for CAN Registration.
STEP 2: Fill up all mandatory details (marked as *) in the form prescribed format.
STEP 3: Click on Register to submit the form.
Note: The applicant should verify OTP before submitting the form. On successful CAN Registration, the CAN Number will displays.
Applying for Solvency Certificate
If the applicant is having a unique CAN Number his/, her record will be shown in the search results.
STEP 1: Select the record by clicking on the options button against the desired record.
STEP 2: Click on Proceed. Also, by clicking on the Edit CAN Detail button, the applicant can modify the CAN details. The Save as New option allows you to save the same CAN Number with the following applicant details.
- Applicant Details
- Parent Details
- Spouse’s Details
- Current Address
- Permanent Address
- Contact Details
- Immovable Properties
Enter details of the immovable properties and add details using the available fields and Add button.
Note: Total solvency amount should not be less than the amount for which solvency is required.
Step 3: Click on Submit. The ‘Cancel’ button closes the application form.
Step 4: Next screen will show a list of required documents. Attach the documents in prescribed file size and file type. The applicant can remove any uploaded document using the cross sign. Please note that the ‘Upload’ button will appear once you browse and add a document.
Step 5: After uploading the documents, click on ‘Make Payment’.
Step 6: Payments page will appear. Click on Confirm Payment.
Step 7: Click on Print Receipt to download/print the receipt to obtain an acknowledgement receipt.
Note: After submission of application, the applicant can find draft applications under the Saved Application section and upload documents or make payment as required.
Download Solvency Certificate
On approving the application, download the Solvency Certificate from the Operator’s desk and hand over to the applicant.
STEP 1: Click on Check Status.
STEP 2: Enter Application Number.
STEP 3: Click on Search.
STEP 4: Click on the Download certificate link to download the certificate.