Treds platform and chg1 on mca portal

What is that you are trying to say by this post here?

To protect MSME sector,  Govt mandates PSU & Cos having turnover Rs.250 crores. onboarding TReDS platform for discounting Purchase, sales Invoices. Intermrdiaries mention that this being off balance sheet item,  need not report to MCA, Chargeholders[ Lending banks].

My query is that whether we need to take charge holders into confidence about such onboarding. 

What are facts vis-a-vis query and your locus standi ?

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Discounting of purchase and sales invoices on a platform, being an off-balance sheet item, raises questions about notification requirements to lenders.

Since you have first-ranking and Pari passu charges on your assets, with CHG1 filed with MCA and a Deed of Charges executed with Bank Trusteeship, it's essential to consider the implications.

Notification Requirements Typically, lenders with first-ranking and Pari passu charges require notification of any significant changes to the borrower's financial situation or asset structure.

However, the specific requirements depend on the terms and conditions outlined in the loan agreement and the Deed of Charges.

Off-Balance Sheet Items Off-balance sheet items, like invoice discounting, might not be explicitly mentioned in the loan agreement.

 In this case, it's crucial to review the agreement and consult with your lenders to determine if notification is required.

Recommendations 1. *Review Loan Agreement*: Carefully examine the loan agreement and Deed of Charges to understand the notification requirements.

2. *Consult with Lenders*: Reach out to your lenders to clarify their expectations regarding notification of off-balance sheet items like invoice discounting.