Is charge creation necessary


This query is : Resolved 

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
18 December 2015 One of my client has borrowed loan from the bank for purchasing a machinery and kept the same machinery as security to the bank. My question is Is there any necessary to create a charge in the company... that is to file the FORM CHG-1 ??

18 December 2015 creation of charge is necessary.
You can yourself can get the charge registered or the bank may on your behalf get the charge registered and collect chrges from you.

18 December 2015 yes. Creation of charge in favour of bank is necessary.

19 December 2015 If your client is a company charge creation is must.

Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
19 December 2015 Thanku guys ☺

20 December 2015 You are most welcome.

.


You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now



Similar Resolved Queries


loading


Unanswered Queries



CCI Pro



Answer Query



Company
ARTICLESHIP 07 September 2026
CA Articles

Kothari Jain Patil & Chartered Accountants

Pune

CA Inter

View Details
Company
19 August 2026
PAID ARTCILE ASSISTANT

My Legal Tax Consultants Pvt. Ltd.

Noida

CA Inter

View Details
Company
ARTICLESHIP 01 September 2026
Article Assistant

SGNG & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 24 August 2026
Chartered Accountant Articles

Rohit KC Jain & Co

New Delhi

CA Inter

View Details
Company
09 September 2026
Chartered Accountant

Aviv Global Private Limited

Ahmedabad

CA

View Details
Company
ARTICLESHIP 26 August 2026
Article Assistant

ANIVESH CONSULTANTS LLP

Gurgaon

CA Inter

View Details
Company
ARTICLESHIP 26 August 2026
CA Article Assistant/CA Drop Out/Accounts Executive

PARV & Co.

New Delhi

CA Inter

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details