Does FCRA Act allow to any sale of Asset?

Posted on February 22, 2012 by SRRF

Dear SRRF Dialogue members,

We have received a new query under FCRA from, Mr. Thiyagarajan D

”Does FCRA Act allow to any sale of Asset? Kindly give me crystal Clear explanation”.

Looking forward to your response.

Thanks and regards,
Tanvi Dogra
SRRF Dialogue, Coordinator

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e-mail: socio-esearch@sma.net.in

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6 Responses to Does FCRA Act allow to any sale of Asset?

  1. Thiyagarajan Devarajan says:
    February 24, 2012 at 1:02 pm

    ThanQ sir!!!

  2. Ajay Jain says:
    February 23, 2012 at 7:18 am

    Dear Sir,

    My response is as under:

    In my view, if any assets procured under ‘FCRA, and assets to be dispose due to non working then assets can be sold and sale realization amount to be deposited in FCRA bank accounts.

    If there is any other view, Please update.

    Regards
    Ajay

  3. B V Soma Sastry says:
    February 22, 2012 at 3:29 pm

    Dear Mr. Thiyagarajam,

    Greetings from Hyderabad!

    There is no restriction on the sale of asset under FCRA. It has to be ensured that the sale of asset purchased out of FC funds have to be recorded in FC books and the same has to reflected in FC-3 (now FC-6).

    Thanks and regards,

    B V Soma Sastry

Comments are closed.