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Name : Ajit Mohandas
Subject: Multiple banking regulations
Message : Could someone enlighten me on the regulations governing multiple banking

1. Do i need a no Objection and an agreeement to share the primary charge of assets from my first banker?Can the first bank refuse this?

2. Can i file the needed forms to ROC giving first charge to the new bank for any current assets which will be purchased with the new banks cash credits with an additional collateral and start operating with the second bank before the NOC is actually issued by the first bank?

Ajit Mohandas

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