Chg-1 for letter of guarantee

As per section 77 of the Companies Act 2013, charge needs to be created on each and every assets of the Company. If the bank has given the guarantee amount of 50 laks and CC Limit is of Rs. 6.5 crore, then charge is to be created on 6.5 crores only as 50 lakhs is FD which is being hold by the bank and the charge is filed in Form CHG 1 within 30 days of creation of charge.

it should be 700 lacs. Is the charge created over the property of Company?

@ Viswanath, FD is also an asset of the Company, when the same is being taken into lien it become a charge created by the bank on asset of the Company. Hence CHG should be for entire amount.