Regarding the name of the company for a loan

Anoop Kumar (Querist) 28 April 2012 This query is : Resolved
A company is taking a loan to buy a car from a finance company. The name of the company is ABY but in the registration certificate and pan card it is mentioned as ABI. Suppose it wants to buy the car in the name of ABY, what are the other documents it can provide as proof for this name. Or can we accept a declaration which says that both the entities ABY and ABI are one and same. Or do we need to amend the loan agreement accordingly?

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adv. rajeev ( rajoo ) (Expert) 28 April 2012
Get it corrected the name of the co., or file another loan application in the of ABI

ajay sethi (Expert) 28 April 2012
amend the loan agreement

Deepak Nair (Expert) 28 April 2012
The name of the company needs to be rectified in the office of ROC and the rectification of the name is required to be endorsed in the certificate of incorporation. Then only it is acceptable.

Deepak Nair (Expert) 28 April 2012
Otherwise, the loan agreement needs to be amended in the name as reflects in the certificate.

Anoop Kumar (Querist) 28 April 2012
What will be the position if the customer is a trust but not a company?

Anoop Kumar (Querist) 28 April 2012
Thanks for all your responses friends!!!

prabhakar singh (Expert) 28 April 2012
लाल बुज्हक्कड़ की कहानी है या वाकई हकीकत ,कभी कंपनी तो कभी ट्रस्ट ,ये क्या मजाक है जनाब ,

करार में संशोधन कराएँ

DR.VEDULA GOPINATH (Expert) 28 April 2012
the name of the company should be the name as mentioned in the certificate of incorproation issued by ROC.

If it is so warranted, the company is able to change the name of the company by following the procedure as per companies act of 1956.

Thus the financier should mention the name of the company as mentioned in the certificate of incorporation of the company.

Also the financier is required to file form of charges with the registrar of companies u/s 125 of the companies act of 1956.

dr vedula gopinath 9848227926 vgopinath2@yahoo.com

Shashikant V. Patil (Expert) 30 April 2012
How can a mistake recurred twicely on two important documents i.e 1) Registration certificate 2) PAN Card is not understood. It is negligencies or a foul play ? In the second query, queriest changed it from Company to Trust is also not understood. Over and above, under this circumstances, this Co. or trust, want to take loan. Please carry out necessary legal rectification as stated by our experts.

Deepak Nair (Expert) 30 April 2012
Your subsequent query shows that it is an academic query.
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