Hi all, my query is whether we can reduse the charge amount by filing the modification of charge..e.g... company took 25L loan from bank its included attached cc of 15L..now company cleared that cc amount 15L..so that is there any provisions or there under CA 2013. KINDLY GIVE BREEF INFORMATION REGARDING THE SUBJECT WITH SEC.
modification of charge should be done just as if a new charge is created, in a nutshell, if there is any modifications in the charge, all the procedure of creating a new charge should be followed. (refer section 77,78)
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