Invitation of Expression of Interest for Law firms/Legal Advisor to advise upon

scrutiny of title deed and offering legal opinion relating to properties.

1. Introduction:

Syndicate Bank, a leading public sector Bank invites EOI from experienced Law
firms/Legal Advisor for empanelment on the approved panel of Law firms/Legal Advisor
of the Bank for the work of scrutiny of title deed and offering legal opinion relating to
properties offered as security in lieu of credit facilities to our branches falling under
various Regions to reduce Turn Over Time (TAT) for obtaining the Report.

Bank is giving a lot of emphasis on growth of our Home Loan Port-folio as the same is
considered as one of the safest portfolios for lending for the Bank. The Bank is also
working on this direction and have undertaken various policy initiatives to facilitate
lending under Housing Loans simpler. Various initiatives undertaken by the Bank, have
started showing positive result also.

Now, the Bank has directed to empanel sufficient numbers of Law firms/Legal Advisor at
all RMLC across the country to reduce TAT for sanction of Loan. At present, it is
experienced that most of the time in sanction of Loan is consumed by Advocates and
Valuers for submitting their reports.

2. Background:
Syndicate Bank, Regional Office, ……………………. invites applications from Law
firms/Legal Advisor enrolled with the respective State Bar Association, having office(s)
in District ………………………………………………… and requisite qualification and
experience as per the eligibility criteria as set out in Annexure‘A’, preferably
empanelled with other Banks and Financial Institution to assist the Bank in scrutiny of
title deed and offering legal opinion relating to properties offered as security in lieu of
credit facilities. The objective of this EOI is to identify and empanel eligible firms/legal
Advisors, having requisite capability, experience & expertise and are interested in
providing services to the Bank as detailed in this document.

3. Submission of EOI:

Expression of Interest (EOI) are invited in sealed envelope superscripted as

<Expression of Interest for empanelment of Law firm/Legal Advisor for handling
matters scrutiny of title deeds and offering legal opinion with regard to properties
offered as securities in lieu of credit facilities.>

a. From the applicants who meet the eligibility criteria as set out in Annexure‘A’, and
b. Agree to abide by the terms and conditions contained in this Request for EOI.
document.

Sealed envelope containing complete set of hard copy of EOI should be submitted by
Post to or delivered in person at the below mentioned Office. A soft copy of EOI should
be mailed to ro. ……………@syndicatebank.co.in. EOI should be in format as per
Annexure ‘B’ by 31.08.2019 by 5.00 PM

Additional information should be provided by annexing separate sheets.

Regional Manager,
Syndicate Bank, Regional Office: ………………
Address:
Phone No. :

4. Applicant’s Eligibility Criteria:

This process is open to all applicants who fulfill the eligibility criteria as set out in
Annexure-‘A’ of this document. Applicants should furnish information on the lines of
Annexure-A in their EOI proposal.

5. Scope of Work:-
a. Conducting search with the sub-registrar office, registrar of assurance, municipal
corporation, various development authorities, Housing board etc to ascertain
encumbrance on the properties offered as securities to the Bank.

b. Issuing non – encumbrances certificate based upon the search conducted with
the above office as well as applying and obtaining non-encumbrance certificate
from the office of sub-registrar/municipal corporation/development authorities
wherever the rules permit.

c. Conducing title search based upon the documents relating to the properties
offered as securities.

d. Offering legal opinion with regard to marketability, mortgageability and accepting

the properties as security.

e. Offering legal opinion with regard to the mode of mortgage for the properties
offered as security.

f. Suggesting the Branch on obtaining approved maps, site plan, approved layout
of the properties.
g. Verifying and certifying the genuineness of the documents of title / link document.

h. Obtaining certified copies of the title deeds and link document from the
concerned offices for verification or on the request of the branch.

i. Certifying the enforceability of the loan documents, mortgaged created with the
Bank.

j. Officering non-encumbrance certificates and second/subsequent search report

as per the requirements of the concerned Branch.

k. Bank reserves a right to entrust work relating to vetting of legal opinions offered
by other Advocates, vetting of loan documents, drafting, issuing recall/legal
notice defending bank interest in various judicial forums and court of law and
other litigation works.

6. Process before submission of EOIs:-

i. Raising of queries/clarifications on Request for EOI document: Applicants
requiring any clarification on this document should submit their queries through
email on on or before 30.08.2019 latest by 5.00 P.M. to
o………@syndicatebank.co.in

ii. Modification in Request for EOI document:

Bank may modify any part of this document at any time prior to the deadline for
submission of EOIs. Such change(s) if any, may be in the form of an
addendum/corrigendum and will be uploaded in Bank’s website.

7. Professional Fee Payable:

Sr. No. Particular Fee Payable

1. For Scrutiny of Title Lawyer’s fee

Deeds 1. Upto ₹ 5.00 lacs - ₹1,500/-
2. Above ₹5.00 lacs and upto ₹10.00 lacs -
₹ 2,500/-
3. Above ₹ 10.00 lacs - ₹ 4,000/-

PLUS
Fee for conducting search at SRO/Revenue
Offices etc. @ Rs. 500/- per office + Actual
search fee paid to the authorities against
production of receipts.
2. Vetting of Loan [above Rs.1.00 crore]
Documents Minimum Rs.2,000/- and maximum Rs.5,000/-
depending on loan amount, number of credit
facilities sanctioned, amount of facilities and
nature of documentation

3. For issuing notices For liability upto ₹ 5.00 lacs -₹ 250/-

against defaulting For liability exceeding ₹ 5 lacs and upto ₹10
borrowers: lacs - ₹ 500/-

For liability exceeding ₹ 10 lacs - ₹1000/-.

Plus actual expenses incurred towards

typing and postage.

8. General Information

1. Mere submission of application and fulfilling of eligibility criteria does not entitle
the Law Firm/Legal Advisor for empanelment.

2. The bids received shall be evaluated based on the evaluation criteria. Law
Firms/Legal Advisors having more experience/resources/ logistics/panels will
earn more weightage as indicated in the evaluation criteria.

3. Bank reserves its rights to modify/relax the eligibility criteria in case sufficient
number of eligible applications are not relieved.

4. Bank reserves the right to summarily reject the application for any reason without
assigning the reason thereof.

5. Engagement of the Law Firm/Legal Advisor shall be at the sole discretion of the
Bank.
 ANNEXURE – A

1. The Applicant should be a firm/experience of at least 5 years of on the civil

side before the Civil Court/DRT and the advocates, individuals or partners
of the firm should be of undoubted legal acumen and unblemished
integrity.
2. The Advocate / firm should be of good repute and have experience in
attending to banking matters offering legal opinions, title search reports
and NECs in respect of the properties offered a security.
3. The details of the experience are to be provided in the annexure to the
applicant’s response to this EOI.
4. The Advocate/ firm should be well versed with Banking Law and practice,
transfer of property Act, Mercantile Laws. Knowledge of SARFAESI, DRT &
IBC, 2016 is desirable.
5. The Advocate/ firm must be willing to abide by the Bank’s terms and
conditions as to fees, charges etc.
6. It is desirable that the Advocate/ firm should be empanelled with other
bank or financial institution and should be willing to undertake that they
shall not appear/ advise or represent interest adverse tothe Bank’s
interests.
 Annexure B

(Form for submission of EOI)

1. Name of the firm, address, contact details, e-mail id:

2. Number of years for which the firm/Legal Advisor is working:

3. Details of the Senior Partner/Partner or associates, if any.

5. Details the office:

6. Academic qualifications of partners/legal advisor.

8. Experience in brief supported by documents:

9. Experience of appearing on behalf of banks/financial institutions in matters

stated in (8) above:

10. Details of the matters for appearance against Bank in any suit/DRT or any other

proceedings:

11. Whether the firm is willing to withdraw from matters, if any, being contested

against the Bank.

13. Whether willing to abide by the fees decided by the Bank.