A Bank sanctioned BG limit of 125 Crores and CC Limit of 5 Crores to XYZ Ltd. While filing form 8, Company fill CC limit of 125 Cr. & CC limit of 5 Cr. i.e. forget to write BG and write CC in place of that.
Is there is any alternate available to rectify the mistake or XYZ has to approach the CLB to rectify the same.
11 January 2011
According to me this is a pure clerical error, hence you may ignore this.
The charge is created for the full amount of loan, only the category is wrongly mentioned. Again the attachments and supporting documents to Form 8 will clearly show the bifurcation.
If still you want to carry out the correction you can try modification of charge attaching same documents.
CAclubindia
