Smart Ltd. has borrowed a term loan from Genius Bank based on a charge on its fixed assets and necessary charge filing has been done by the company with the Registrar of Companies. Advise the company, if any modification
CS Professional · Advanced Company Law and Practice · PYQS · June 2014
Smart Ltd. has borrowed a term loan from Genius Bank based on a charge on its fixed assets and necessary charge filing has been done by the company with the Registrar of Companies. Advise the company, if any modification of charge is required to be filed in the following events: The term loan provided for interest rate to be charged at 2% over the bank rate notified by RBI. The bank rate has been revised from 8% to 9% by RBI and consequently, the interest rate increased from 10% to 11%.
Topics: Charges
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