Regisration of charge

Hello there,

Greetings of the day to all CCI members.

I have a query regarding registration of charge.Suppose a company has taken a loan by creating a mortgage of asset of another company which is a group company of the first mentioned company.

For example, Company A has taken a loan by cresting a charge of asset of another company B (B is a group company of A Only)

then,who is required to creat a charge and by which amount ?

Thanking you in advance.

Rajdeep.

Replies (1)

The company on whose assets charge is created needs to be registered with the ROC or the Banker may take necessary initiative to complete the charge creation formalities.

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