CAF-4 · Chapter 21 · Question 2 of 3
Which of the following instruments is explicitly NOT required to be registered as a charge under the provisions of the Companies Act, 2017?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: D) A promissory note given to secure the payment of any book debts of a company.
Explanation
According to Section 100, a promissory note given to secure the payment of any book debts of a company is an exception and is not required to be registered as a charge.