Dear sir, we are a pvt ltd co., and taken a vehicle loan from our bank . By overlook/mistake we couldnot register charge on it and now we have clear the loan . our banker also knows for for non registation of charge and as the loan is cleared they have not any objection. The loan was taken in last april 09 and cleared in this may 10 .
Please guide us what step to be taken now....is there is penalty for non registation of charge .
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IS charge creation is complusory
Replies (2)
Do not worry at all. No need to create any charge for this short duration loan.
Further the list of compulsorily registerable charges is given under section 125(4) of the companies act, 1956. Please go through it.
Best Regards
Agree. Moreover, since the bank does not have any problem, the charge is satisfied, there is no reason for you to worry.
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