Loan to public company

joseph (student) (61 Points)

14 August 2018

Can directors pledge their property as security for loans took by company?!? if yes, is there a need to create charge with ROC?

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Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 14 August 2018

If director and company enter into contract then i think Yes director can pledge his property for loan taken by company

Charge needs to be registered within 30days of creation

joseph (student) (61 Points)
Replied 14 August 2018

on which property charge need to be created?!

Ruchika Somani (Coaching and Practice in Tax Audit Law.) (4429 Points)
Replied 14 August 2018

Property which will be pledged.

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