Creation of Charge

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 March 2011 Whether Form 8 is required to be filed if a Company takes Loan from the bank and the director of Coompany gives his personal property as security to the Bank?

Kindly explain in details along with the relevant sections.

Pls do the needful very very urgenbly.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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10 March 2011 If the underlying asset is not in the name of the borrower company, no need to register charge with ROC.
Pl see the wordings in section 125(1) viz., "so far as the security on the company's property".

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