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Chg-1 form company taking guarantee from another company. how to create charge

MCA 401 views 2 replies

Aman Agrawal

....

101 Points Joined July 2014

hey i am new in this profession i need your help. ABC PRIVATE LIMITED has taken a loan of 30 crore from UCO bank and hypothicate the property of TWO companies namely PQR PRIVATE LIMITED(15 CRORE) AND XYZ PRIVATE LIMITED(15 CRORE) LOAN IS FOR CC LIMIT.

ALL THREE COMPANIES OWNED BY SAME DIRECTOR.

NOW MY QUESTION IS FOR WHICH COMPANY SHOULD I FILE FORM CHG-1 AND WHAT IS THE DIFFENRENCE BETWEEN CHARGE HOLDER AND THE COMPANY(option is showing in chg-1 form) please answer as soon as possible

Replies (2)

pritesh

delhi

720 Points Joined February 2011

Only ABC required to create the charge

P C Agrawal

Registered independent director Past Ch

8229 Points Joined March 2007

PQR and XYZ have to file CHG-1 since charge is created on their properties. Bank is the charge holder. ABC is not required to file CHG-1 since no charge is created on its properties.