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Form 8

This query is : Resolved 
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(Querist)
26 March 2011 we have a cash credit limit from dena bank and charge is registered for that now we have taken new term loan from same bank

i want to ask whether it will be creation of new charge or modification in existing charge
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Rasesh

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Rasesh (Expert)
28 March 2011 Depends onthe document prepared for the term loan. If the enhancement in limits is by way of a composite document executed between the Bank and the Company, then modification of charge will do.

If the Term loan is obtained by execution of an independent document, then fresh charge has to be created.
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