banner_ad

Loan on mortgage of property

Others 2700 views 4 replies

Hello friends,

X company wants to take a loan on mortgage of a property .

Property is registered in the name of the third party no where related to company.

Can Company takes loan on mortgage of a property related to third party?

Does Bank reject loan to comp on mortgage of third party's property?

Replies (4)

According to me bank should reject such kind of loan application where there is no connection established between the borrower and property in question.

obviously bank wil nt grant the loan to company unless d property to be mortgage vest in the name of company... Or the holder third party should gv in written to the bank that his/her property is mortgaged for company's loan.

Hello all,

Thanks for your replies.

another query.

Director holds a property.Company mortgaged that property and obtained a loan.

during that mortagage period ,can that property be transferred to company (Sale) by that director?

According to me director can transfer his property to the company subject to the terms and conditions of the loan agreement. Approval of bank should also be taken in this regard.

Further director will be considered in this transaction so he should disclose his interest in the board meeting, which approves such purchase, u/s 299. Also check the compliance of section 300 and 301 in this regard.

 

Tx


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Related Topics
Loading
Company
21 May 2026
Associate

PWC

Kolkata

CA

View Details
Company
23 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
26 May 2026
Education Content Creator

Adyayam Education LLP

Bengaluru

CA Foundation

View Details
Company
ARTICLESHIP 09 June 2026
Article Trainee

Numbertree LLP

Mumbai

CA Inter

View Details
Company
16 May 2026
Audit clerk

mgirt & co

Bengaluru

CA Inter

View Details
Company
ARTICLESHIP 28 May 2026
Accounts, Audit & Compliance Executive

Shyam Joshi & Associates

Pune

B.Com

View Details