Harun Raaj & AssociatesHarun Raaj & Associates
CreditHRA / BUSINESS-FINANCE / FY 2026-27

Business Finance & Credit

CMA, DPR, TReDS & NBFC

Bank credit CMA reports, project finance DPR, working capital, credit rating advisory, NCD issuance, TReDS invoice discounting, and NBFC registration.

This hub covers the finance layer around growth. When a business needs bank credit, project finance, working capital optimisation, or a financing structure, we package the data and the narrative so lenders and investors can evaluate it cleanly.

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Focus Areas

What this hub covers

CMA reports and banker-facing credit packsProject finance DPRs and term-loan supportTReDS, invoice discounting, and working capital optimisationNBFC registration, NCD/debenture issuance, and credit rating advisory
Statutory Anchors
RBI NBFC Master DirectionsCompanies Act 2013 Section 42SEBI NCS Regulations 2021TReDS circular DBOD.No.BP.BC.55/21.04.048/2014-15
Lifecycle Map

Typical engagement flow

Package the data

Build the CMA, projections, and lender pack from the client’s books and operating metrics.

Choose the route

Compare working capital, term debt, NCD, TReDS, and other funding structures.

Support the application

Coordinate the bank, rating agency, financier, or regulator-facing documentation.

Keep it funded

Maintain ongoing reporting discipline so the facility or instrument stays usable.

Services

Related services in this lifecycle

01

Bank Credit & CMA Report Preparation

Bank Credit / CMA

CA-prepared Credit Monitoring Arrangement (CMA) data for bank loans — 3-year historical + 2-year projected financials, DSCR, TOL/TNW, current ratio, and banker-specific annexures for CC/OD/TL.

02

Business Finance & Credit Services Overview

Business Finance Hub

Overview of business finance services — bank credit (CMA reports), project finance DPR, working capital structuring, NCD issuance, credit rating advisory, and invoice discounting via TReDS.

03

Credit Rating Advisory

Credit Rating Advisory

Credit rating advisory — data preparation for CRISIL/ICRA/CARE/India Ratings, financial analysis alignment with rating criteria, management presentation preparation, and ongoing rating management.

04

Growth Finance Advisory

Growth Finance

Growth finance advisory for expanding businesses — working capital enhancement, term loan structuring, NCD issuance, venture debt feasibility, and fundraising readiness. CA-led financial modelling and lender engagement support.

05

Invoice Discounting & Working Capital

Invoice Discounting

Working capital advisory through invoice discounting — comparative analysis of TReDS, bank bill discounting, and factoring. CA-side advisory on GST treatment, e-invoicing compliance, and cash conversion optimisation.

06

Invoice Discounting via TReDS Platforms

Invoice Discounting / TReDS

Invoice discounting via RBI-regulated TReDS (Trade Receivables Discounting System) — platform selection (RXIL, M1xchange, Invoicemart), MSME onboarding, buyer acceptance, and financing at competitive rates.

07

NCD & Debenture Issuance Advisory

NCD / Debenture

Non-Convertible Debenture (NCD) issuance advisory — unlisted private placement (Section 42/71), listed NCD (SEBI LODR), debenture trust deed, security creation, and debenture redemption reserve.

08

NBFC Registration — RBI CoR Application

NBFC Registration

NBFC registration with RBI — Certificate of Registration (CoR) application, minimum net owned fund Rs 10 crore, online RBI COSMOS portal submission, business plan preparation, and ongoing RBI compliance after registration.

09

Project Finance — DPR & Techno-Economic Study

Project Finance DPR

Project finance support — Detailed Project Report (DPR) preparation for term loan applications, techno-economic feasibility study, DSCR/IRR/NPV analysis, and government scheme financing (MUDRA, PLI, PMEGP).

10

TReDS — Trade Receivables Discounting System

TReDS

TReDS platform onboarding — RBI-regulated Trade Receivables Discounting System for MSMEs to discount accepted invoices through licensed financiers. Includes GST/e-invoicing compliance review and buyer onboarding support.

11

Working Capital Finance Advisory

Working Capital Finance

Working capital finance advisory — Cash Credit (CC) and Overdraft (OD) facility structuring, drawing power calculation, stock/debtor statements, renewal of working capital limits, and working capital optimisation.

FAQs

Common questions

Do you prepare CMA reports for banks?

Yes. We prepare lender-ready CMA data with projections and credit ratios for working capital and term debt.

Can you help with TReDS and invoice discounting?

Yes. TReDS onboarding and invoice discounting advisory are part of this hub.

Do you work on NBFC registration?

Yes. NBFC registration and RBI process support are included.

Is NCD / debenture issuance covered?

Yes. We handle the private placement and issuer-side advisory for NCDs and debentures.

Need the right filing or advisory path?

We can map the facts, confirm the statutory route, and move from draft to execution without the usual back-and-forth.

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