Roc documentation

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Querist : Anonymous

Querist : Anonymous (Querist)

12 April 2012 Company has taken term loan and extended CC limit. Bank has given two separate form 8,one with memorandum of entry and other along with extention of equitable mortgage.
Both form 8 contains total value of loan(tem loan +Cc.
Is it correct bcoz i feel filing of both means creating double charge for same amount??
thank you

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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12 April 2012 Each form 8 and the underlying documents should contain the amount of the concerned loan only, otherwise amount of the charge created will be wrong.

CS Sandip Rahane

CS Sandip Rahane (Expert)
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12 April 2012 One form including both amt is sufficient.

CS Sandip Rahane

CS Sandip Rahane (Expert)
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12 April 2012 One form including both amt is sufficient.

Ajay Mishra

Ajay Mishra (Expert)
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12 April 2012 Hi

If the amount is same and terms and conditions are same then the only one form is required to be submit and give the details of security against the loan amount.

Regards

Querist : Anonymous

Querist : Anonymous (Querist)

12 April 2012 Thanks for replying..

can i file only one form 8 by attaching memorandum of entry and extention of equitable mortgage containing whole loan amount?

vignesh

vignesh (Expert)
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13 April 2012 Hi,

One form 8 is enough and the loan is extending the CC limit, thus you can modify the charge from the existing limit to current limit with referring the present charge ID for the loan.

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