Time
Limit For Registration of Charge With ROC
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A charge created by a company
is required to be registered with the Registrar within thirty days of its creation in such
form and on payment
of such fees
as may be prescribed. According to Companies (Registration of Charges) Rules, 2014 e-forms
prescribed for the purpose of creating or modifying the charge is Form No.CHG-1 (for
other than Debentures) or Form No.CHG-9 (for
debentures including rectification).
is required to be registered with the Registrar within thirty days of its creation in such
form and on payment
of such fees
as may be prescribed. According to Companies (Registration of Charges) Rules, 2014 e-forms
prescribed for the purpose of creating or modifying the charge is Form No.CHG-1 (for
other than Debentures) or Form No.CHG-9 (for
debentures including rectification).
Condonation of delay by Registrar: The Registrar
may on an application by the company
allow registration of charge
within three hundred
days of creation or modification of charge on payment of an additional fee. The Registrar may, on being satisfied that the company had sufficient cause
for not filing the particulars and instrument of charge, if any, within a period of thirty days of the date of creation of the charge,
allow the registration of the same after thirty days but within a period of three hundred
days of the date of such creation
of charge or modification of charge on payment of an additional fee. The application for delay shall
be made in Form No.CHG-1 and
supported by a declaration from the company
signed by its
secretary or director that such belated
filing shall not adversely affect the rights of any other
intervening creditors of the company.
may on an application by the company
allow registration of charge
within three hundred
days of creation or modification of charge on payment of an additional fee. The Registrar may, on being satisfied that the company had sufficient cause
for not filing the particulars and instrument of charge, if any, within a period of thirty days of the date of creation of the charge,
allow the registration of the same after thirty days but within a period of three hundred
days of the date of such creation
of charge or modification of charge on payment of an additional fee. The application for delay shall
be made in Form No.CHG-1 and
supported by a declaration from the company
signed by its
secretary or director that such belated
filing shall not adversely affect the rights of any other
intervening creditors of the company.
Condonation of delay by
the Central Government: If the company fails to register the
charge even within this period of three hundred days, it may seek an extension of
time in accordance with Section 87 from the Central Government. The same has
been discussed later in this chapter.
the Central Government: If the company fails to register the
charge even within this period of three hundred days, it may seek an extension of
time in accordance with Section 87 from the Central Government. The same has
been discussed later in this chapter.
Application for registration of charge by the charge-holder : According to Section 78 where a company fails to register the charge within the
period specified above, the person in whose favour the charge is created may
apply to the Registrar for registration of the charge alongwith the instrument
created for the charge in Form No.CHG-1 or
Form No.CHG-9, as the case may be,
duly signed along with the fee. The registrar may,
on such an application, give notice
to the company about such application. The company may
either itself register
the charge or shows sufficient
cause why such charge should not be registered. On failure on part of the company, the Registrar may allow
registration of such charge within fourteen days after giving notice to the company. shall allow such registration.
period specified above, the person in whose favour the charge is created may
apply to the Registrar for registration of the charge alongwith the instrument
created for the charge in Form No.CHG-1 or
Form No.CHG-9, as the case may be,
duly signed along with the fee. The registrar may,
on such an application, give notice
to the company about such application. The company may
either itself register
the charge or shows sufficient
cause why such charge should not be registered. On failure on part of the company, the Registrar may allow
registration of such charge within fourteen days after giving notice to the company. shall allow such registration.
Where registration is affected on
application of the person in whose favour the charge is created, that person
shall be entitled to recover
from the company, the amount of any fee or additional fees paid by him to the Registrar for the purpose of registration
of charge.
application of the person in whose favour the charge is created, that person
shall be entitled to recover
from the company, the amount of any fee or additional fees paid by him to the Registrar for the purpose of registration
of charge.
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