Applicability Form 8 - car loans

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..... Applicability Form 8 - car loans
Query (Issue) Started By: - BHARTI DEY Dated:- 29-5-2009 Last Reply Date:- 30-5-2009 Other Topics
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Indian Laws
Is filing of Form 8 (registratio .....

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..... n of charge) with Registrar of Companies applicable in case of car loans which are secured by hypothecation of cars acquired on Equitable Monthly Installment (EMI) system ? Reply By Mukesh Kumar: The .....

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..... Reply: As per the provisions of section 124 of the companies act, 1956 - charge includes mortgage. Further as per section 125 of the companes act, 1956, pledge of any movable property is not subject .....

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..... to the provisions of charge. Since hypothication is not a mortgage but a pledge of movable property, the same shall be out of the provisions of charge under chapter V of the companies act, 1956.
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..... Discussion Forum - Knowledge Sharing .....

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