I have a query, in my company we applied for a bank loan of Rs. 50 crores but loan sanction was 40 crores, we didn't registered a charge meanwhile our bank loan was revised and we were sanction 45 crores loan. Now, my question is whether I have to register earlier charge of 40 crores and then go for rectification for 45 crores or I can directly register a charge of 45 crores. Please also let me the process to create a charge.
23 July 2012
Hi dear, . As per Law: You have to file first form for 40 cr. n then modification form for 45 crores,,, . coz if in your Agreement, of 45 Crores , name of the Agreement would be Suppl.deed of Hypo/EM..,, so. . First check your both agreement properly then go ahead.
CAclubindia
