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ROC

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 December 2009 Our queries are as under:-

1. We had registered a charge(form 8)with ROC against cash credit in 2006.The CC limit is renewed in 2009 and there is no change in terms and conditions of CC limit.Are we again required to reregister the charge already register in 2006.

2. Is it necessary to register a charge created for loan taken by company against personal property of director?

Pls suggest on the above two issues
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
16 December 2009 1) If fresh set of documents are executed in 2009, satisfaction has to be filed for 2006 charge and new charge has to be registered with the 2009 documents.

2) Charge should not be created for Director's personal property.
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Querist : Anonymous

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Querist : Anonymous (Querist)
16 December 2009 Dear Sir

is it necessary to register new charge. there is no change in limit sanctioned by the bank for CC. pls advise
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C.A.Harish Singh

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C.A.Harish Singh (Expert)
17 December 2009 I dont think a new charge should be register if there is no change in limit sanction by the bank
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