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Charge creation

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Querist : Anonymous (Querist)
30 January 2018 ABC PVT LTD (Holding Company) has given guarantee to bank for loan availed by its wholly owned foreign subsidiary .in this case charge creation under section 77 of companies act 2013 is necessary ?

was it necessary under companies act 1956?
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CS Mitesh Mehta

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CS Mitesh Mehta (Expert)
31 January 2018 No. transaction covered by the deeds of guarantee is not a registrable charge. Guarantees do not require registration

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