Modification of Charge

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This query is : Resolved

CS Akansha Gambhir (Querist)

24 February 2010 Do the following documents constitute valid attachments for evidencing the provision of collateral security for the modification of a charge or is it necessary to have a supplemental agreement or any other instrument by whatever name called??

a) Board's Resolution
b) Affidavit from all the directors containing details of the modification.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)

24 February 2010 As per my understanding, a modification agreement executed and signed by the parties involved therein on a stamp paper of appropriate value is required.

CS Akansha Gambhir

CS Akansha Gambhir (Querist)

24 February 2010 The Affidavit is on Stamp paper of requisite value and affirmed by Notary. But yes it is signed only by the Directors on behalf of the Company and not by anyone on behalf of the chargeholder.

Ankur Garg

Ankur Garg (Expert)

24 February 2010 As per my understanding ROC may ask for the agreement evidencing the modification of charge. If you have uploaded form 8 without agreement then keep checking the ROC approval status on MCA site.

Regards