charge on assets
This query is : Resolved
05 August 2008
1 what is charge over assets?
2 assets here means only Fixed assets only or debtor and stock also?
3 what is first charge and second charge ?
4 If assets is of Rs.1000
Does it means 1st charge on cash credit account of Rs. 300
2nd charge can be created of Rs. 200 ?
Does it mean that way or Some other way???
2 assets here means only Fixed assets only or debtor and stock also?
3 what is first charge and second charge ?
4 If assets is of Rs.1000
Does it means 1st charge on cash credit account of Rs. 300
2nd charge can be created of Rs. 200 ?
Does it mean that way or Some other way???
S.Srinivasaraghavan
(Expert)
06 August 2008
1. It is a subject matter of security for a borrowing and committed to it.
2.All assets can be charged.
3.First and secong charge are the order in which the assets have been committed for satisfaction of the borrowings concerned.
4. Sl no 3 is self explanatory.
2.All assets can be charged.
3.First and secong charge are the order in which the assets have been committed for satisfaction of the borrowings concerned.
4. Sl no 3 is self explanatory.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- TDS on Dashcam rent and allied services
- GSTR-9C filing
- Working on Gold wastage during Melting of old gold jewellery
- Import Order Cancelled.
- Section 269ST applicability for capital introduced by partner to his partnership firm
- Capital gains in IT returns
- Form 144 TDS Return Validation Error – Mandatory Fields
- Advances to related party
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
