Aman Agrawal (....) (101 Points)
24 February 2021hey i am new in this profession i need your help. ABC PRIVATE LIMITED has taken a loan of 30 crore from UCO bank and hypothicate the property of TWO companies namely PQR PRIVATE LIMITED(15 CRORE) AND XYZ PRIVATE LIMITED(15 CRORE) LOAN IS FOR CC LIMIT.
ALL THREE COMPANIES OWNED BY SAME DIRECTOR.
NOW MY QUESTION IS FOR WHICH COMPANY SHOULD I FILE FORM CHG-1 AND WHAT IS THE DIFFENRENCE BETWEEN CHARGE HOLDER AND THE COMPANY(option is showing in chg-1 form) please answer as soon as possible
P C Agrawal
(Registered independent director Past Chairman of Aurangabad Chapter of ICSI Practicing Company Secretary at Aurangabad)
(8229 Points)
Replied 02 March 2021
PQR and XYZ have to file CHG-1 since charge is created on their properties. Bank is the charge holder. ABC is not required to file CHG-1 since no charge is created on its properties.
CAclubindia
