Creation of Charge for bank Guarantee.

[CS Shrikant Huddar]

Dear Members,

In tender submission Company is submitting Bank Guarantee against the FD held in Bank, Whether Charge will be created on FD given for Bank Guarantee, is there any requirement to fie CHG- 1. 

As apply for tenders and submission of BG is day to day working of the Company.   

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Thanks & Regards

Shrikant Huddar

[Ramaswami Mohan]

yes please. it is necessary to file charge for BG and, also file for its vacation once the BG period is completed, with suitable documentation.

pl see the provisions in CA 2013

regards,

Mohan 

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CS. R.  Mohan
Mobile: 9908814677