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Sonakshi Bhargava (Querist)
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07 January 2013 If Company's property given as security to bank for Bank Guarantee, does this conclude to charge under sec 125 of the Companies Act, 1956 and will be required to file form 8?

Ajay Mishra

Ajay Mishra (Expert)
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07 January 2013 Hi

Yes, if the property of the company is secured against the loan, or Guarantee for loan then it will be covered under section 125 of the Companies Act, 1956.

Sonakshi Bhargava

Sonakshi Bhargava (Querist)
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07 January 2013 Sir it is simply a bank guarantee not for loan but to be provided to the exchanges and for that property is given as collateral security. Now it is required? i think yes please correct me

Ajay Mishra

Ajay Mishra (Expert)
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07 January 2013 Hi

Yes, it is required, it will be called corporate guarantee.

Sonakshi Bhargava

Sonakshi Bhargava (Querist)
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07 January 2013 thanks sir

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