Hi,
I understand that generally "Limited Companies" create a charge on their assets when they take loans from financial institutions and banks. The banks and financial institutions insist on this. On the same property or asset, there can be a First Charge and a Second Charge. Obviously, a First Charge holder has better rights compared to a second charge holder on the same property. My question is, can a Second Charge holder ask the company for the conversion of its second charge into a first charge, and if yes, what is the procedure for the company?
Regards,
Charandeep
From India, New Delhi
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I understand that generally "Limited Companies" create a charge on their assets when they take loans from financial institutions and banks. The banks and financial institutions insist on this. On the same property or asset, there can be a First Charge and a Second Charge. Obviously, a First Charge holder has better rights compared to a second charge holder on the same property. My question is, can a Second Charge holder ask the company for the conversion of its second charge into a first charge, and if yes, what is the procedure for the company?
Regards,
Charandeep
From India, New Delhi
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TAKE CHARGE OF YOUR LIFE.ppt
Translated charge sheet shrigopal soni.doc