Now a days, Banks are more emphasizing on demanding Search Repots from Limited Companies while opening of Bank Accounts or giving the Loan to such Companies. The need for Search Reports arises to keep themselves (Banks) safe and to ensure that the company is not the defaulting one or having not the defaulting directors and to know the complete history and information about the company.

It generally includes:

1. Name of Company

2. Registered Office Address of the Company

3. Capital Structure of the Company

4. List of Directors of the company since incorporation

5. List of Shareholders of the company since incorporation

6. List of Registered Charges since incorporation etc.

7. The Report may include the other matters also as per the demand of the Bank Officials.

A search report traces the history of a company or the property held by the company – i.e. who is the original owner of the property and how it has mortgaged with various banks over a period of time before reaching the present Bank who has demanded the Search Report. This is an important part of a loan process by Banks to the Companies. A search report is usually prepared and drafted by Professionals, who after visiting the registrar’s office (Registrar of Companies) and inspecting the property documents, issues the certificate to the Bank stating the facts about the company.

Search Report is mainly beneficial and demanded by following persons/ entities:

1. By Banks

2. By Shareholders

3. By Directors

4. By Government Authorities.