Multiple choice

Under Companies Act, a charge includes

  1. mortgage

  2. promissory note

  3. bill of exchange

  4. letter of credit

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Section 2(16) of the Companies Act, 2014 defines charges so as to mean an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage.