Compliance under Companies Act

Others 1243 views 2 replies

Hello

If any one can  guide me if my company isa limite company & office premises is on rental basis from promoter of the company.

So that office belongs to promoter & not to company & now  promoter has takne the loan from bank but the loan is granted inthe name of company.  My question is that if that property is not belonging to company then also i have to file Form 8 or not. if yes please explain me & if not then also explain me.

++++ one more question is that if i can show that much amount granted by bank is to be loan taken from promoter.++

Thanks

Pooja S Mirani

Replies (2)

Hi..

As per the provisions of section 125 of the Companies Act, 1956 Form 8 is required to be filed only in cases where by any security is created on the property of the Company for the purpose of securing the repayment of the amount borrowed and payment of interest thereon. Since the Loan has been availed in the name of the Company but the property on which the charge has been created does not belong to the Company, in my opinion, Form 8 is not required in your case.

M Doubtful about the reply given By Mr. UDIT, Can Ankur Srivastva  Sir give reply to this please


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