Even seasoned borrowers make errors leading to penal interest or stock audit fees.
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"NF-1003" "Canara Bank" filetype:pdf
Important: Ensure you download from canarabank.com or a trusted government domain like www.udyamimitra.in (SIDBI portal) which also hosts this form.
A: Yes. Intentionally overstating stock to inflate drawing power is a criminal offense under the Indian Penal Code (cheating). The bank can recall the entire loan and report to CIBIL.