Registration of charge
Neethu (CA) (138 Points)
28 May 2014
Is it necessary to register charge with ROC when the company has granted a loan against FD?
chandra
(student)
(528 Points)
Replied 28 May 2014
Loan against FD is by way of pledge of FD receipt. FD Receipt is retained by the Lender. Does not require registration.
Niraj
(prop)
(105 Points)
Replied 28 May 2014
Hi
As per my understanding, required form CHG-1 needs to be filed.
As FD is the Assets (in whatever shape) of the Company and Bank is giving loan by creating a charge over the same, the charge is secured. Form CHG-1 needs to be filed.
Others views are invited.
CAclubindia
