anybody can help me?
i run a chemical company in aurangabad city (MS). we had a bad cibil report since 2010. since then we are just surviving. we are mainly in job work business. we need financial support to carry business. but due to weak balance sheet and less transactions in bank ac we are getting trouble in loans approval. without money we cannt proceed further and bank need transaction in ac. we are in devout. can anybody find way out of this. my business is really profit making. more  

View all 7 comments Below 7 comments
Further to my above comments I also inform you that 'LESS TRANSACTION IN BANK ACCOUNT' can be improved by your own decision - (1) if you decide to deposit amount of all sale proceed (may be in Cash &/or through cheque) on daily basis in bank account & (2) Make payment of all purchases through cheque (3) Even any deposit or loan you raise from from friend(s) &/or relatives may also be receive through cheque & deposit in Bank account. (4) Make payment of salary through cheque (5) Draw cheque and withdraw amount from bank for petty day to day expenses. This will improve your Balance Sheet drastically. But it should be started with immediate effect with Bank from which you want to take loan facility. more  
CIBIL Score is aggregate of financial discipline of a person / entity compiled from the information received from all its financial members like Banks & other Institutions. CIBIL score can not be bad unless & until there is default. Default may be known to the persons or unknown to him. In the report CIBIL mention the default. Hence, Mr. Sandeep Chavan has to look into it and try to remove it by contacting the financial institution where he may have defaulted financially. As far as I know no financial institution will entertain anybody's loan application. more  
You said your business is profit making but you also said you are just surviving and you have weak Balance sheet and less transaction in Bank. Why this contradiction between your statements. May be you are doing lot of business is cash (without Billing to avoid taxes either for yourself or your customer). Get out of it. Start doing more business with Bill and pay your taxes that will really help you in everything. Your balance sheet will be strong, Your bank transactions will be more, Your cibil rating will improve. You will be able to invest your money in various Financial Instruments. Also nation will develop with your taxes more  
float your company with 100% share sell in the stock market. one aluminium company in Kharagpur are in loss from time immemorial.....but Director Jhunjhunawala's Salary is going up every year. you see in Rediff that there are Companies whose share value are less than 10 paise sometime. rather than giving salary...ask the worker to take the share.....make a co operative out of all employees and you become one of the shareholders for safety. more  
Post a Comment

Related Posts

    • Why income details must be given to broker

      Always wondered, why does an investor have to fill in income details with the broker? I buy shares if I have money. I do not need to have an income. And PAN number is a must. So why do you add this...

      By Aditi Jain
    • Bad news for small savers

      There won't be any cut in interest rate of Small savings schemes . Yesterday's decision to lower the interest rate is REVERSED

      By Jayanti Natarajan
    • Bad news for small savers

      Rates on small savings schemes reduced by 50-90 basis points. PPF in April-June quarter to earn you only 6.4% interest against 7.1% earlier. Senior Citizens Savings Scheme to earn on 6.5% now compa...

      By Vikram Gupta
    • Secured earning for Senior Citizens

      I raised this point on earlier occasions also. No relief seen in any budget. I made a suggestion as follows: There are some schemes exclusively for the benefit of Senior Citizens like Se...

      By SN Sitaram
    • Rounding off the amount in Bills

      Request guidance as to which is the appropriate circle & authority to whom i can complain regarding the below mentioned issue: Lately with many of my relatives and friends staying in Gurga...

      By Manas Hazarika
    • Great news for seniors

      Senior Citizens (above 75 years) who get pension and interest income only are exempted from filing returns

      By Azam Yusuf
    • The Govt salutes honest and compliant tax payers

      Recently our CBDT isued a press release saying it cannot punish compliant and honest tax payer by extending various due dates for the assessee who are dishonest, lazy and non compliant and our secu...

    • Can budget help with illiquid stocks

      Most of senior citizens are stuck with stocks of illiquid and delisted companies. To help them a window may be created to extinguish such stocks and set aside such investments against long term ca...

      By Aditi Jain
    • Waive off Tax for the Covid-19 period!

      Covid-19 has affected almost all citizens and residents of India. People are jobless and businesses are either shut down or in a loss. People are unable pay their EMI's. Loan moratorium relief was ...

      By Suhail Sayed
    • Now report these in income tax

      Additional transactions to be included under the reporting standards of income tax include: Payment of rent above Rs 40,000. Payment of educational fee/donations above Rs 1 lakh per...

      By Aditi Jain
    • Savings Must ?

      Senior people at loss as Bank FDs intrest less. Now any type of Mutual Funds ,Liquid Funds prone to Stamp Duty. Gains for LTCG. Dividends TDS! SCSS etc Long duration with reduced yields! Is Saving...

Enter your email and mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

All My Circles
Invite to
(Maximum 500 email ids allowed.)