Summary of Charges as per company act 2013
Summary of Charges as per company act 2013 : Charge means an interest or lien created on the properly or assets of a company or any of its undertakings or both as security and includes a mortgage.
- Charge can be Fixed or Floating.
- Charge created on a specific assets is called Fixed charge.
- Charge created not on a specific property but on a block of property whose value keeps on fluctuating is called Floating charge. For eg – Stock in trade.
- Conversion of Floating charge into Fixed charge is called crystallization of
- Charge can be created on –
i) Movable Property
ii) Immovable Property
iii) Intellectual Property, which can be present or future property.
- When a charge is being created in India or Outside India on the property/
asset/ undertaking of the company whether tangible or intangible situated in
India or Outside India then such charge is required to be registered with RoC
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Company law notes as per company act 2013
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