Form 17

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 January 2011 In Form 17 under verification part two columns are there for digital signature
One is for charge holder and another is for Assignee

My question is

Whether digital sign.is required for both columns , if yes who has to sign in each column and there designation

For Eg. if charge holder is nationalised bank.

Please suggest.....

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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28 January 2011 ARC or Assignee column ,in the given case, need not be signed digitally or otherwise.

Querist : Anonymous

Querist : Anonymous (Querist)

29 January 2011 Sir,
If Charge created against nationalised bank

What I have to mention in column "Whether charge is satisfied in favour of ARC or assignee"
If I leave ARC or Assignee column in sign.part presdrutinity is not possibile

Please Advise

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CA Sanat Pyne

CA Sanat Pyne (Expert)
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29 January 2011 In case the charge is modified in favour of the asset reconstruction company (ARC) or assignee then;
the eForm should also be digitally signed by such ARC or assignee. In such case, the digital signature
of the charge holder is optional.

Querist : Anonymous

Querist : Anonymous (Querist)

29 January 2011 So charge holder is nationalised bank we have mention under
-
Whether charge is satisfied in favour of ARC or assignee" in Form 17 as Yes Or No

Please Advise...

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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29 January 2011 Select 'NO' in clause 3 of e-form 17 and proceed as I said earlier.

Querist : Anonymous

Querist : Anonymous (Querist)

29 January 2011 Thanks sir