Jayanta Bandyopadhyay 30 January 2025
We already lodged CHG1 for existing Bank loan. Now for additional loan and the same charge holder, should we file a revised CHG1 or incremental one. What about cancellation of existing CHG1 without satisfaction, as same banks are giving an higher loan amount.
vasantharao venkatarao (Independent professional ) 17 June 2025
Modification of charge would be necessary. The question of filing satisfaction of charge for the existing charge does not arise as the first loan may still be outstanding. Hence for the additional loan , the company has to file the modification of charge by including the additional loan .
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