Dear Sir :
We are an Automobile Car dealership of a leading brand, For purchase of our Car stock we have got an INF (Inventory Funding facility) from a financier (say X) & cars brought from the manufacturer are through the financier. (thus all are stock in trade cars are hypothecated to The Financier,X). Now, we are using our Stock in trade cars for Demo purpose & thus getting another loan from a financier on the same. Now, do we have to file a charge against the 2nd loan also (as for the 1st INF facility, Charge has been created on my whole stock value)
kindly help
CAclubindia
