application to CLB, urgent

Save Share

This query is : Resolved

Megha Gupta (Querist)

08 April 2009 Hello Everyone,

in our co the charge has been created of Rs. 9.5 crore with ICICI Bank in 2006. and in 2007 it has been reduced to Rs. 8 crore and then after some time to Rs. 6.5 crore and the co has defaulted in filing form 8 with ROC for modification in charge with in the time limit.

now the point has came to know, please let me know how should i go for CLB approval? what are the other compliances and is there any other alternate to come up with this situation?

CA CS CMA Srinivasan N

CA CS CMA Srinivasan N (Expert)

08 April 2009 In such cases it is better to file a Fresh Charge with the fine applicable. It is complicated to go through the CLB route.

Megha Gupta

Megha Gupta (Querist)

08 April 2009 means i couldn't get you. pleaes tell me in depth procedure that i should follow for this.

what to do with the form 8 which we have filed at the time of creation of charge in 2006.

Megha Gupta

Megha Gupta (Querist)

08 April 2009 means i couldn't get you. pleaes tell me in depth procedure that i should follow for this.

what to do with the form 8 which we have filed at the time of creation of charge in 2006.

CS SIDDHARTHA BANIK

CS SIDDHARTHA BANIK (Expert)

08 April 2009 Procedure is as followes:

1.Collect letter of modification of loan from the concerned bank.

2.Then file 'Form-8';

3.Challan generated after filing form 8 should indicate to proceed to CLB for condonation of delay;

4.File application to CLB for condonation of delay, stating proper reason for the delay (for exemple,delay in providing letter by bank due to ignorance of company law procedure etc. )

Thanks,
CS Siddhartha Banik

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now