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charge

Yoga M. (99 Points)

01 December 2017

what is charge creation?. please tell with eg.

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AMIT GUPTA (TRAINEE) (31 Points)
Replied 03 December 2017

charge means right in the assets of the person to whom we extend financial assistance in order to secure our advances..

Yoga M. (99 Points)
Replied 03 December 2017

please tell with example

Pardeep Garg (CA-Final Student) (801 Points)
Replied 15 December 2017

for eg. I provide to you some money for some period.
but for securing that money I asked u to assure me about safety of my money.
so u assured me that if u can't pay me back,then u will give ur watch to me.
& now created a chrge on the watch in mine's favour.
if u don't pay me then I will be entitled to take ur watch.