Apt Source - A Service Provider For Micro Finance Institutions

By Author: Bala Subramanian
Total Articles: 1
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Services :

At Apt Source, the professional services of qualified and experienced legal professionals are available to help you comply with all statutory requirements. A wide range of services- from helping in the choice of the right legal entity, to facilitating an understanding of the roles and responsibilities of the board of directors, and fulfilling legal obligations, adherence to the State and Central Acts & Rules are all provided.

Promotion, formation and incorporation of companies,(and all related matters including) right from drafting the Memorandum and Articles of Association and other documents and filing them with the Registrar of Companies are taken care of on a turnkey basis.

Complete solutions are also provided for valuation of stocks, shares, debentures, securities, shares in partnership firms, including assessment of goodwill.

Services for raising of funds from International Markets through Euro Issues ADRs and GDRs are also handled.

Consultancy services and guidance are provided in matters relating to the Wealth tax act, the Income tax act ,the MRTP act/consumer protection ...
... act, the securities contracts (regulation) act/ SEBI act/depositories act and the rules, regulations, bye-laws and guidelines made there under .

Services relating to industrial licensing, foreign collaborations, subsidiaries, joint ventures etc. services under sick industrial companies (special provisions) act, 1985: services under intellectual property rights.

Apt Source follows the three tired approach suggested by CGAP :

Tier I: A review of self reported portfolio and financial information at an MFIs head office, discussions with key managers, and review of credit policies and general documentation;

Tier II: A Multiple-day field visit by one or two analysts/auditors to number of MFI branches to carry out a qualitative assessment of extent to which MIS reports mirror the reality of repayment in the field office, the appropriates of credit policies and procedures and the extent to which loan officers abide by these policies, the existence of practices that tend to generate increased and unmeasured credit risk such as re-aging, refinancing, and the granting of parallel loans, and overall impressions about the quality of credit management at the MFI:

Tier III: A two or three week review by a team of local auditors who will evaluate asset quality on the basis of a review of information from loan fiels, accounting files and the loan tracking MIS, selected through a process of statistical sampling, that will allow them to make inferences, within acceptable levels of confidence and variance, about the risks related to make accounting practices and credit policy. The third tier will apply a new level of rigor to the analysis of total micro finance portfolio quality. This approach is grounded in generally accepted statistical approaches to sampling, with sample sizes selected to allow inferences made about the overall quality of the portfolio within known a confidence level and variance (upper bound)