Charge under the companies act, 2013
This query is : Resolved
30 March 2016
Dear Learned Members,
ABC Pvt Ltd has availed a Term Loan of INR 5 Crores from its Bankers at certain terms and conditions. The company had filed e-form 8 under the old Act for charge creation.
Now the Company has availed a Foreign LC/Buyer Credit of INR 10 Crore. However, the repayment terms, margin, collateral are different from the existing one.
Therefore, would this amount to Modification of the existing charge or a fresh creation of charge?
Thanking you in advance.
ABC Pvt Ltd has availed a Term Loan of INR 5 Crores from its Bankers at certain terms and conditions. The company had filed e-form 8 under the old Act for charge creation.
Now the Company has availed a Foreign LC/Buyer Credit of INR 10 Crore. However, the repayment terms, margin, collateral are different from the existing one.
Therefore, would this amount to Modification of the existing charge or a fresh creation of charge?
Thanking you in advance.
01 April 2016
If this is a fresh loan then fresh form for creation of new charge will be filed.
However, it is the new limit within the approved loan or limits have been revised, then the existing charge will be modified. In most of the cases Charge need to be modified in the above cases.
However, it is the new limit within the approved loan or limits have been revised, then the existing charge will be modified. In most of the cases Charge need to be modified in the above cases.
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
- About TDS & Income Tax
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Tax on Deemed Capital Gain
- Section 194JA & JB Income which ITR Form to use
- Booth for sales promotion
- Type of Capital Gain
- Regarding ITR filing with more value than showing in AIS/TIS
- F & O PROFIT REPORTING FOR AY 2026-27
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
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
