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Is chg is filled for corporate guarantee

19 January 2017

when a subsidiary Co. Taken a loan from a bank and on behalf of Subsidiary Co Holding Co given a Corporate Guarantee to the Bank then CHG-1 is Filled for Holding Co. or Not?

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3 Replies

P C Agrawal (Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad) (8229 Points)
Replied 19 January 2017

Not required. But if you have executed hypothecation agreement, filing CHG.1 will be mandatory.

bhoomika mangal (CS) (24 Points)
Replied 19 January 2017

Thank Sir

ANIL DHIMAN (Company Secretary ) (25 Points)
Replied 19 January 2017

It is compulsory to file CHG-1. The chargeholder will not accept corporate guarantee as a security fo rthe charge created until and unless you file CHG 1 against it with RoC.