Registration of charge with roc

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Querist : Anonymous

Querist : Anonymous (Querist)

12 July 2013 What is the remedy for a bank if inadvertently at the time of sanction of a loan Form 8 was not filed and after the sanction of that loan company is not ready to file Form 8? Then how can bank register that charge with ROC without the dsc of that company?

Ajay Mishra

Ajay Mishra (Expert)
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12 July 2013 Hi

If you have created a charge by executing an instrument, and Bank has sanction your loan, then particulars of charge is required to be filed with ROC. You can not escape from this, if Bank is agree to submit the required form.

Querist : Anonymous

Querist : Anonymous (Querist)

13 July 2013 Ajay Ji, here Bank is ready to file Form 8 but Company is not ready to file form -8 after sanction of its loan by bank. now my question is what is the remedy available to bank in this case.

pls give your suggestion or advise with the point of view of a bank.

Ajay Mishra

Ajay Mishra (Expert)
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13 July 2013 Hi

If you have not agreed to take loan or wanted to comply the terms of loan, then you can revoke the such loan in Board and send the letter of revocation of bank facility.

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