registration of charges
This query is : Open
CA Sumat Singhal
(Querist)
17 January 2010
Hello friends I have query regarding following question:
What are the consequences for the company and/or Auditor the lending bank/financial institution if no action is taken on the question raised by the ROC regarding charges created/modified and they remain unanswered? Are the consequences different when the company goes into liquidation?
Thanks in advance.
What are the consequences for the company and/or Auditor the lending bank/financial institution if no action is taken on the question raised by the ROC regarding charges created/modified and they remain unanswered? Are the consequences different when the company goes into liquidation?
Thanks in advance.
CA. B.SRINIVASULU
(Expert)
17 January 2010
The consequences are same even if the company goes into liquidation. Infact the consequences will be more serious.
17 January 2010
Auditor should clearly state that the non-registration of charges.
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