Jayanta Bandyopadhyay 21 January 2025
Discounting of purchase & sales Invoices on this platform is an off balance sheet item. Do we require to notify lenders, who have first ranking and Pari passu charges on our Assets and CHG1 is filed with MCA & Deed of Charges is executed with Bank Trusteeship.
Please guide
T. Kalaiselvan, Advocate (Advocate) 21 January 2025
What is that you are trying to say by this post here?
Jayanta Bandyopadhyay 22 January 2025
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.
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