Form -8 Charges

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CS Vandana Kacholia (Querist)

18 May 2009 Dear Sir/Madam,

Will form 8 be filed while taking any car loan from any bank. If yes, then what will be situation if a company has taken lots of car loan, has not filed any form 8 yet with ROC, some loan are fully paid and some of are exist, so that form will be fild in both cases or what??

what will be the procedure of getting approval from CLB??

Ram Avtar Singh

Ram Avtar Singh (Expert)

18 May 2009 its not compulsory but if required by bank then it will be filed.

some time its field by Bankers directoly.

please wait for others experts openion.

CA Nitin Wadhwani

CA Nitin Wadhwani (Expert)

18 May 2009 I think there is no need to create charge for car loan since in a car loan, the car itself is a primary security which is hypothecated with the bank.

Message likes : 1 times

Ankur Garg

Ankur Garg (Expert)

19 May 2009 Agree with Nitin. Form-8 not required to be filed.

Please go through the section 125(4) for the list of compulsorily registerable charges.

Regards

Message likes : 1 times

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