Upgrad LLM

can a nominee be a charge holder ?

Management Trainee

Dear all,

A group consisting of a partnership firm & a private company is entering into a deed of charge. They are being represented by an individual acting as their nominee. In this situation; who shall be the chrge holder ??? Will it be the company & the partnership firm or will it be their nominee ???? Eagerly awaiting your reply. Thank you

Regards,

Sagnik Sanyal

 
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Jadhav & Associates

Please do not deal with nominees. The nominees are persons who are to act as administrators on behalf of the principals but they do not have authority.

Deal with the Power of Attorney holderas representing the companies and partnership firms directly.

 

S Jadhav


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ADVOCATE AND CORPORAE ADVISOR

dear sir

 

I am not clear the words deed of charge..............Do you mean, they have taken loan for which the assets of the pvt. ltd. co. and firm are being charged.

In case of company deed of charge is required to be signed by one of its directors and in case of firm by the partner or managing partner.

The party in whose favour the charge is created shall become the charge holder . Also u/s 125 of companies act, 1956 charges need to be registered with concerned ROC. The director by way of a specific and special p.a. can acat on behalf of the partnership firm and not vice vesa.

dr vedula gopinath,   


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Management Trainee

Dear Mr. Gopinathan,

The fact is that my company has taken a sustantial loan from a group consisting of a Private Ltd. Company & a partnership firm for which a charge on our company's asset is being created in favor of that group who are represented by a nominee. In this scenario we have to get the charge registered under section 125 of Companies Act through e-form 8 of MCA. My question stands that for the purpose of filing that e-form 8 & complying with section 125, who shall we term as the charge holder ?? The company & the firm or thier nominee who is representing them & signing the agreement.

Regards,

Sagnik Sanyal

 
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ADVOCATE AND CORPORAE ADVISOR

dear sir

 

Now I could understand the matter clearly

 

the lender is private limited company and partnership firm represented by nominee

as we do in pari passu charge creation

the charge holder could be              private limited company, partnerhip firm

                                                               repreented by nominee

 

charge holder can be anybody......ltd. co. individual or firm etc.

company creating the charge  .;......should be a co. regd under companies act for the purpose of sec 125

 

hope you are clear now.

rgd

dr vedula gopinath

 

 

 

 

 

 
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