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creation iof charge

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 March 2011 hi
can anybody tell me whether company can create charge on the assets which are not yet acquired.suppose financial institution insist us to create charge on the vehicle which are yet to be acquired, whether company can create charge and give security of the future vehicle? kindly quote any case law or article on this.


urgent pls-------------------
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udit sharma

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udit sharma (Expert)
29 March 2011 Yes..in my opinion Charge can be created on the assets of the Company, both present and future.

God Bless

CS Udit Sharma
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