Can a CA sign and issue search report to a company???
Its urgent.plz help
Regards
Priya
Urgent!!!!search report
Priya Sharma (Company Secretary & Student.MBA) (998 Points)
13 November 2009
Priya Sharma (Company Secretary & Student.MBA) (998 Points)
13 November 2009Can a CA sign and issue search report to a company???
Its urgent.plz help
Regards
Priya
Priya Sharma
(Company Secretary & Student.MBA)
(998 Points)
Replied 14 November 2009
Hiiiiiii
Rply for the second post.
Well Search Report is required by the Banks and various financial institutions at the time of giving away loans to the Corporate bodies, in order to check the credit worthiness and seek a reoprt on the position of the borrowings made by the company and the particulars of the charges created on the assets of the company and previous satisfaction status of the other charges.
Tha bankers through their own officers used to prepare this report by inspecting the papres at the ROC office, however then they starterd appreciaitng the shifitng of this responsiiblity to the Company Secretaries in Practice.
So, this report is prepared by the Company secretary on the basis of the physical search at Registrar of Companies and also from the Registrar of Charges, to be maintained by the Company under the provision of section 143 of the Companies Act 1956.
Regards
Priya Sharma
CS final student
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