Charge registration for car loan
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
17 October 2011
IS IT MANDATORY TO REGISTER A CHARGE WITH ROC FOR CAR LOAN TAKEN BY A PVT. LTD. COMPANY
17 October 2011
Hypothecation of vehicle ,by way of endorsement in the RC book,is also a pledge of the vehicle.Hence charge creation is not mandatory in view of the exception contained in section 125(4)(e) of the companies Act,1956.
17 October 2011
By plain reading of the section for charges it can be concluded that the registration of charge on vehicle should be created.
But, in practical cases, I have never seen any company creating the charge nor any enquiry from MCA in this respect.
But, in practical cases, I have never seen any company creating the charge nor any enquiry from MCA in this respect.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is Aadhar PAN linking required for opening bank account?
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Where to show the RCM on Rent paid to unregistered landlord
- Applicability
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- RCM - commercial rent paid to URP under GST
- TDS NUMBER SURRENDER
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Offsetting interest income against derivative trading losses
- Application of 115BAC
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
