Crystallization of a floating charge:-
Crystallization means conversion of a floating charge into a fixed charge on the assets in the class charged. A floating charge crystallizes when:-
(i) The company discontinues carrying on business.
(ii) The company goes into liquidation
(iii) A receiver is appointed for.
(iv) A default is made in paying the principal on interest and the holder or the charge brings an action to enforce his security specified in the deed.
Latest posts by BMS Team (see all)
- Meterdown Annual Festival is back with its 7th edition – Starts today! - January 16, 2020
- Tybms sem 6 results 2019 declared on 19th June 2019 - June 19, 2019
- TYBMS Sem 6 Results 2019 Update from BMS khabri! - June 15, 2019