Dear Friends,
I would like to know if there is any limit on the Amount secured in the filing of charges. that is to say any limit upto which a company can avail the amount on property charged, or it can avail any amount as bank guarantee on the property charged.??
Any Section for this limit (if any).??
Early repl is awaited.
Thanks in advance.
Kanika Sukheeja
Hi,
No there is no such limit. Company can avail any amount as loan on the property charged subject to the realizable value of property. Kindly refer section 125 of the companies act, 1956.
Regards
Dear Sir
Does it attracts Section 293 (1)(d)?
A public company can borrow amount in excess of paid up capital and free reserve only after approval of company /shareholders in general meeting.
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