A Co. is allowed to buy and sell properties over which it has created a floating charge. But will it be correct to write "property is free from charge and encumbrance" in the Agreement to Sell to be executed in respect of the property on which a floating charge has been created? Urgent.
1 Replies
AASHISH SACHDEV
(-)
(400 Points)
Replied 16 December 2012
yes, because the charge will be effective only after crystalization of charge...ie, conversion of a floating charge into fixed charge.
Recent Topics
- Form 3CEAA and Form 3CEAB
- DIR 3 Web KYC
- Can i declare LTCG income as business income if I
- Stock entry in new software
- I have an EMI collection shop, what is its SAC cod
- Making payment once in quarter possible under QRMP
- Master File Documentation related
- Applicability of 44AD needs clarification
- ITC reversal in GST 3B
- Claim if ITC on stocks 19-2020 conversion from com
Related Threads
CAclubindia
