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Company Law-Charges

Amit Gupta (Loosening Myself) (1508 Points)

03 November 2009

Hii

What is the meaning of subsequent charge having priority over the unregistered charges???

Pls reply.

tak care:)

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6 Replies

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 05 November 2009

Hi,

Whenever a charge is created on any property the same is required to be registered with ROC through filing of form 8.

You may also create second charge on same property and get it registered with ROC.

Where both the above charges registered with ROC then first charge shall have the priority over the second charge.

In case you fail to get the first charge registered in your favour but second charge get registered with ROC then in that case second charge shall have the priority over the first charge.

This is the situation where subsequent charge gets priority over the first but unregistered charges.

Regards

Ankur Garg (Company Secretary and Compliance Officer) (114773 Points)
Replied 05 November 2009

Please find attach my company law handout and visit page No. 14, 15 and 16 to understand the concept of priority.

Attached File : 46 company law notes my best file.pdf downloaded: 389 times

Vishwjitsinh (Student) (33 Points)
Replied 26 August 2011

I Am CS Exe. student.and thank u very much 4 ur time that u hv given to this site.... u hv been proved 2 b most useful person.....ur all topic discuss vry useful. v will need ur help 4ever....& my e-mail Id is vishwjitsinh @ gmail.com sir send me HANDOUT.... thnx very much 1ce again