A Search and Status Report should always be supported by expert observations on the charges created by the borrower in respect of the subject lender. It is necessary to peruse the observations/comments offered and the sa

While providing search report the following factors should be taken care by the professional: The Search and Status Report should give exact details of particulars of charges/ modifications/ satisfactions as effected, filed and registered from time to time. Identify those charges and modification of charges, which have been created in favour of a particular lender. Take the particulars of the documents creating the charge as specified in Form CHG-1 and Form CHG-9 under the Companies Act, 2013 or Form 8 under the Companies Act, 1956. Ascertain as to whether the amount secured by the charge as per the documents executed has been duly mentioned. Ascertain as to whether 'properties' offered as security are mentioned as per the documents creating the charge and attached with the Forms and verify whether they are as per the terms of Sanction. Check whether the terms and conditions governing the charge have been mentioned. Ascertain whether the name of the lender is properly mentioned. In case of modification of charge ascertain whether the names of documents effecting the modification are mentioned and whether the particulars of modification are clearly mentioned. In case of charge, the particulars of documents attached with forms, amount secured by the charge as per the documents and/or sanction ticket, the properties/assets secured by the charge, the terms and conditions governing the charge and the name of the lender is properly mentioned in the relevant columns of Form CHG-1.