Dear Sir,
One private limited company gives corporate guarantee to the Bank on behalf of its sister concern who has borrowed working capital loan from that bank.
As the company provides corporate guarantee, its own assets are not being charged, now while filling form CHG-1, how to fill up the following details,
Namely; in e-form point no.
11. Brief of the principal terms and conditions, extent and
operation of charge12. In case of acquisition of property, subjected to charge,
furnish the details relating to the existing charge on the property so acquired
13(a) *Short particulars of the property or asset(s) charged
(including complete address and location of the property)
14. Description of document by which the company / borrower /
third party acquire title
15(a) *Whether any of the property or interest therein under
reference is not registered in the name of the company
Kindly guide me if anyone has done this kind of assignment.
Thanks in advance.
Regards,
CA Yash S. Maurya
E-Mail: ymc....@gmail.com
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