Roc relate to banking sector
This query is : Resolved
23 March 2017
Hi,
My question is comapny by a car and fiance from bank but company ROC not done till.
1. what consequen for ROC not done????
2. Pentaly and time period for ROC???/
My question is comapny by a car and fiance from bank but company ROC not done till.
1. what consequen for ROC not done????
2. Pentaly and time period for ROC???/
23 March 2017
1. If the company is going to be wound up, the money borrowed will not be considered as a debt by the liquidator, meaning thereby the lender will loose the money.
2.If any company did not register the charge, the company shall be punishable with fine which shall not be less than one lakh rupees but which may extend to ten lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine which shall not be less than twenty-five thousand rupees but which may extend to one lakh rupees, or with both.
2.If any company did not register the charge, the company shall be punishable with fine which shall not be less than one lakh rupees but which may extend to ten lakh rupees and every officer of the company who is in default shall be punishable with imprisonment for a term which may extend to six months or with fine which shall not be less than twenty-five thousand rupees but which may extend to one lakh rupees, or with both.
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