The Odisha High Court, while setting aside the Government order, which mandated the furnishing of bank guarantees directed the State Government to renew liquor licenses on the production of the Solvency certificate and fulfillment of other conditions. The total of 162 writ petitions were filed challenging the letter addressed by the Additional Secretary to Government, Government of Odisha, Department of Excise to the Excise Commissioner, Odisha conveying that the Revenue and Disaster Management Department as per their order, wherein it was decided to phase out the issue of Solvency Certificate by Revenue Authorities for grant or renewal of excise licenses and therefore insisted on producing for Bank Guarantee in lieu thereof for renewal and issuance of the license.
Benefits of Odisha Solvency Certificate
- Odisha solvency certificate proves the financial stability of an individual or entity
- This certificate indicates one’s history which he has earned with his previous dealings with other financial institutions from where he had earlier availed of loans.
- This certificate helps to get financial support by way of loans from banks or other financial institutions
- The Odisha solvency certificate authenticates that a person is not a declared insolvent.
- Solvency certificate is usually used to prove financial strength while applying for a visa interview
- Solvency certificate is an essential document for Government departments or other organisations for applying for tenders or similar purposes
- Many companies require solvency certificate for auditing purpose
- This is particularly very useful for students who wish to pursue higher education abroad as most universities need this certificate
- Solvency certificate is mandatory for seeking admission in Government medical or engineering colleges
- This certificate plays a crucial role in court matters like obtaining bails.
- Solvency certificate is needed for submitting to the property sales tax in Odisha
Attributes in Odisha Solvency Certificate
Solvency certificate contains the detailed particulars of property (movable or immovable property) in addition to this the amount for which the person’s solvent and the assets considered for computing the solvency will be mentioned in Odisha solvency certificate.
Assets Considered
The below-mentioned details will be considered in an Odisha solvency certificate:
- Aspects of District, Taluk and Village of the property
- Old survey and Subdivision number of the property
- Information regarding the re-survey block
- Resurvey, and subdivision number will be considered for computing the solvency
- Land mutation number
- Class and Extent of land in Hector
- Market value and Fair Value of the property
- Details of Liability Amount
Eligibility Criteria
The eligibility criteria to obtain Odisha solvency certificate is given here:
- Permanent residence of Odisha can apply for solvency certificate in the respective Tahasil
- The person having his or her landed property in Odisha is entitled to obtain Solvency Certificate
Time Frame
Odisha solvency certificate will be issued within 30 days from the date of application.
The validity of Solvency Certificate
Odisha solvency certificate is valid for one year from date of issuing.
Applicable Fee
The fee structure for obtaining Kerala solvency certificate is explained in details below.
| S.No | Services | Amount |
| 1 | Service Charges of the kiosk Operator | Rs.8 |
| 2 | Printing Charges | Rs.10 |
| 3 | Scanning Charges | Rs.5 |
| 4 | Certificate Output Charges | Rs.10 |
| 5 | DeGS charges | Rs.2 |
| 6 | The Government fees and User costs | Rs.30 |
Prescribed Authority
Revenue and Disaster Management, Government of Odisha, is the concerned department for the issuance of Odisha solvency certificate. The applicant requesting for the solvency certificate should apply to the Tahsildar of the concerned Tahasil which is the competent authority. The following officer will process the Odisha solvency certificate:
- Chief Officer in Charge of Revenue Administration of the concerned & District, Sub-division/Tahasil
- Additional District Magistrate
- Additional Tahasildar
The Odisha solvency certificate for an amount exceeding five lakh rupees will be granted by the Tahasildar and Additional Tahasildar subject to the approval of Sub-Collector.
Documents Required
Below-mentioned documents must be furnished to apply for Odisha solvency certificate.
- Ration Card
- Proof of Identify – Voter ID
- Proof of Address – Aadhaar Card
- Proof of ownership of property
- Land Tax
- Extract of Records of Rights
- Encumbrance certificate (This document is evidence that the property in question is free from any monetary and legal liabilities)
- Proof for Income Sources – Income certificate
Applying through District Revenue Office
Approach District Revenue Office
Step 1: Applicant needs to visit the District Revenue Office to apply for solvency certificate through offline mode.
Submit an Application
Step 2: Applicant has to submit an application in the prescribed format for the Odisha solvency certificate. Get the solvency certificate application form from office and fill duly according to the norms.
Submit all other required documents to the concerned office along with application form.
Get Acknowledgement Receipt
Step 4: Obtain an acknowledgement slip with the unique application number for solvency certificate application. Keep it safe for future reference.
Step 5: Once the application for Odisha solvency certificate has been submitted; the concerned authority will process the solvency application.
Local Enquiry by the Revenue officer
Step 6: A local enquiry will be conducted for verifying the applicant’s immovable properties, the income and sources
Obtain Odisha Solvency Certificate
FAQs
What information does an Odisha Solvency Certificate contain?
An Odisha Solvency Certificate typically contains details about the applicant’s financial assets, liabilities, and net worth, as well as information about any outstanding debts or obligations. It serves as an official declaration of the applicant’s financial standing.
Is there a validity period for an Odisha Solvency Certificate?
Yes, an Odisha Solvency Certificate usually has a validity period specified by the issuing authority, typically ranging from six months to one year. After the expiry of the validity period, the certificate may need to be renewed if required for ongoing transactions.
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