Charge creation

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

22 May 2014 A Limited company availed loan from a bank by pledging Fixed deposits of the company. Whether charge is to be created as per Companies Act,2013.

Aalok Chhaperwal

Aalok Chhaperwal (Expert)
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22 May 2014 yes, Company have to create.

Querist : Anonymous

Querist : Anonymous (Querist)

23 May 2014 As per clause 8(a) of e-form CHG-1 pledge of movable property is excluded from charge creation. Pl see page 28 in the link given below.
http://www.mca.gov.in/Ministry/pdf/NCARules_Chapter6.pdf

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