Loan for veichle
This query is : Resolved
priyanka baid
(Querist)
03 September 2014
if we are taking loan for purchase of a vehicle then is this bis mandatory to file the charge creation form with ROC please reply.
CS Mitesh Mehta
(Expert)
06 September 2014
No charge by way of hypothecation of a motor vehicle shall require registration unless the financier, so requires. Provided the disclosures shall be given in the Balance Sheet regarding all such charges created by way of hypothecation of motor vehicles and the fact that charge has not been registered and the financiers have not required so.
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