Page 222 - A Banker Down the Rabbit Hole

62. Good intentions were

misunderstood for Proper Loan

Documentation

O ne day, the Chief of the branch called me and instructed me

to handover a set of loan documents for working capital to a
person coming from a named big corporate house. He had
allowed overdraft to the tune of Rs. 80 lakhs in their cash
credit account. These fresh documents were required from the company
to cover these excess drawings. One attendant of the company came to
see me. As he would not understand how the documents had to be
executed, I asked him to send some senior person to collect documents
and understand the process to complete them. The attendant returned
and reported the matter to his superior.

My Chief asked me why I had not given the set of documents to the office
attendant deputed by the company. I told him the reason with which he
was not convinced and insisted that I should have handed over the set
of blank documents even to the attendant of the company. He expressed
his displeasure and asked me to manage the issue on my own and get
the documents signed by the company on the same day.

Now I realized that he had no consideration even for right opinion of his
colleagues. Anyway, I got the address of the company headquarters in
the city and met the concerned Vice President and requested him for
signing the documents for the additional facility granted. He sent in a
message for their Company Secretary and Accounts Department for
execution of documents. They informed that they have a policy not to
sign documents other than those signed at the time of availing credit
facilities under the Consortium arrangement, as that requires approval

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