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Creation of charges

MCA 351 views 3 replies

XYZ Pvt Ltd have two leased property which are mortgaged to ABC co op bank,

XYZ pvt ltd already created 1st Charge on both the property in favor of ABC co op bank and form 8 is already filled with ROC.

CDE a propertitory concern also lender of XYZ pvt ltd and given loan equal to ABC co op bank,

CDE a propertitory concern want to create second charge on properties,

can CDE can create second charge ??

if yes whats process

thanks a lot in advance for propmt reply

 

 

 

 

 

 

 

Replies (3)
Yes Ashish.....creation of second charge on a already charged property is possible provided the valuation of that property is sufficient to cover both.....

thanks Vandana,

i am being told that charges can be created only for Bank or financial institutions...

here in my query , can a pvt ltd company can create charges for a properitory concern

 

 

Yes ashish, it is correct....proprietory concerns being unregistered entities cannot get the charge registered.........


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