Modifications of charges
This query is : Resolved
27 March 2010
The private limited co. has taken a loan or Rs. 8 crores. And given a charge over assets.
Now, the company is not owner of some assets which are mortgage with the bank. so the co. has taken release of charges related to sold assets.
Is there any compliance to be done with ROC regarding this??
The loan remains to continue with remaining assets.
Whether i have to file Form no. 8 to ROC.
Now, the company is not owner of some assets which are mortgage with the bank. so the co. has taken release of charges related to sold assets.
Is there any compliance to be done with ROC regarding this??
The loan remains to continue with remaining assets.
Whether i have to file Form no. 8 to ROC.
27 March 2010
For assets sold out, Cancellation of charges to be filed in form No 17.
In respect of new assets which are included under mortgage, create a charge for them by filing form 8.
In respect of new assets which are included under mortgage, create a charge for them by filing form 8.
27 March 2010
Thanx for reply.
Form no. 17 is for satisfactions of charges.in this case there is no satisfaction of charges because loan remain to continue with remaining assets. so i think so form no 17 is not to be filed.
Correct me if i am wrong.
Form no. 17 is for satisfactions of charges.in this case there is no satisfaction of charges because loan remain to continue with remaining assets. so i think so form no 17 is not to be filed.
Correct me if i am wrong.
27 March 2010
Yes u r right. Instead u can file form No. 8 indictaing the modification for exclusion of the assets sold.
27 March 2010
thanxs
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