Creation of charge

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Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2012 A company "A"owned a Hospital and it gives the Hospital on O & M contract to other company "B", now company B securing loan against business of Hospital, whether it is a case of creation of charge on property of Hospital. If yes who will file Form-8

Amol S Joglekar

Amol S Joglekar (Expert)

20 November 2012 loan is against BUSINESS or BUILDING? If it is against business, no need to create charge on building.

Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2012 If company "A" already having loan against hospital property, whether it required to file again in ROC after O & M contract.

Amol S Joglekar

Amol S Joglekar (Expert)

21 November 2012 second or subsequent charge needs to be registered.

CS Ankur Srivastava

CS Ankur Srivastava (Expert)

21 November 2012 Hospital is not the fixed assets of B, he can not give it as security. It is the absolute property of A which can be given as secutity by A only and accordingly for the property of A charge can be filed on A only and not on B.

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