05 August 2008
1 what is charge over assets? 2 assets here means only Fixed assets only or debtor and stock also? 3 what is first charge and second charge ? 4 If assets is of Rs.1000 Does it means 1st charge on cash credit account of Rs. 300 2nd charge can be created of Rs. 200 ?
06 August 2008
1. It is a subject matter of security for a borrowing and committed to it. 2.All assets can be charged. 3.First and secong charge are the order in which the assets have been committed for satisfaction of the borrowings concerned. 4. Sl no 3 is self explanatory.
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