Apart from the master data, available at the MCA portal that can be resorted to mere reproduction of the particulars of charges in form of Search and Status Report is not sufficient. State what else it requires.
CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · December 2024
Apart from the master data, available at the MCA portal that can be resorted to mere reproduction of the particulars of charges in form of Search and Status Report is not sufficient. State what else it requires.
Answer & Explanation:
The master data, available at the Ministry of Corporate Affairs portal that can be resorted to mere reproduction of the particulars of charges in form of Search and Status Report, is not sufficient. It also requires: A thorough study of the particulars relating to the amount secured by the charge and the terms and conditions governing the charge. An analysis of the security available to a particular lender for its advances. A comparison of charges created in favour of a particular lender vis-a-vis other lenders.
Topics: Due Diligence
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