Creation of charge

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2012 A company "A"owned a Hospital and it gives the Hospital on O & M contract to other company "B", now company B securing loan against business of Hospital, whether it is a case of creation of charge on property of Hospital. If yes who will file Form-8

Amol S Joglekar

Amol S Joglekar (Expert)
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20 November 2012 loan is against BUSINESS or BUILDING? If it is against business, no need to create charge on building.

Querist : Anonymous

Querist : Anonymous (Querist)

20 November 2012 If company "A" already having loan against hospital property, whether it required to file again in ROC after O & M contract.

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Amol S Joglekar

Amol S Joglekar (Expert)
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21 November 2012 second or subsequent charge needs to be registered.

CS Ankur Srivastava

CS Ankur Srivastava (Expert)
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21 November 2012 Hospital is not the fixed assets of B, he can not give it as security. It is the absolute property of A which can be given as secutity by A only and accordingly for the property of A charge can be filed on A only and not on B.