Creation of charges under companies Act 2013

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Student CA Final
24 Points Posted on 05 August 2020

There are two Companies ABC Pvt Ltd and PQR Pvt Ltd. ABC Pvt Ltd taking loan from the Bank and PQR giving guarantee on its property.

  • Whether Charge will be created in ABC Pvt Ltd?
  • Whether charge will be created in PQR Pvt Ltd?

 

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On 05 August 2020 at 20:51 Report
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Quick Summary
This discussion clarifies the creation of charges under the Companies Act 2013. When ABC Pvt Ltd takes a loan and PQR Pvt Ltd provides a guarantee using its property, the charge is indeed created in PQR Pvt Ltd, the entity offering the security. This ensures the lender has recourse against the guarantor's assets.

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6 Points Posted on 05 August 2020
Charge will be created in PQR Pvt ltd
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On 05 August 2020 at 21:05
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Student CA Final
24 Points Posted on 06 August 2020
Thanks Jay for your prompt reply.
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On 06 August 2020 at 11:02

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