Charge
This query is : Resolved
Sonakshi Bhargava
(Querist)
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
(Expert)
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.
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
(Querist)
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
(Expert)
07 January 2013
Hi
Yes, it is required, it will be called corporate guarantee.
Yes, it is required, it will be called corporate guarantee.
Sonakshi Bhargava
(Querist)
07 January 2013
thanks sir
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