Get Eligibility Requirements For Issue Of An Application Form - Iba

Filling out the Eligibility Requirements for the Issue of an Application Form - IBA can seem daunting, but this guide aims to simplify the process. Follow these steps to ensure you complete the form accurately and efficiently.

Follow the steps to successfully complete your application form.

1. Click the ‘Get Form’ button to obtain the form and open it for editing.
2. Begin by reviewing the eligibility criteria thoroughly. Ensure that you own a minimum of seven Heavy Commercial Vehicles or an equivalent number of Light Commercial Vehicles, all with the necessary permits. Trucks older than 15 years or certain vehicle types like dumpers will not qualify.
3. If you are a Public or Private Limited Company, confirm that the trucks are registered in the company's name, reflected on the audited Balance Sheet, and include the Income Tax Return and conditions from the last two years.
4. For Proprietary or Partnership firms, ensure registration can be in the firm's name, with asset values included in the audited Balance Sheet.
5. Prepare your financial documents, such as the Profit and Loss Account and Balance Sheet, which must be audited by a Chartered Accountant, confirming capital requirements exceed 10 Lakhs.
6. Document that you have facilities such as offices, branches, or agents authorized to issue Lorry Receipts, with locations in multiple states.
7. Verify that goods transport constitutes over 50% of the total business operations.
8. Confirm that you carry goods at the carrier's risk and that you have been in the transportation business for more than two years.
9. Draft a letter affirming that you meet all eligibility criteria for the application, including any necessary payment details.
10. Complete the application form, ensuring all required documents are attached, including the Demand Draft for the specified amount, and save your changes.
11. Finally, download, print, or share the completed form as needed.

Begin filing your application online today for successful consideration.