creation of charge
Shubham Deshpande (49 Points)
02 May 2019
as per new ordinance -days and form no .??
5 Replies
Fareeha Jabeen
(Articled Assistant)
(160 Points)
Replied 03 May 2019
Hello Shubham,
"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."
The 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)."
You can find the forms for download here. Please do remember to go through the Instructions pdf kit that you get along with the form. Hope this helps!
Jatin Bajaj
(CS)
(2930 Points)
Replied 04 May 2019
As per the provisions of section 77 of the Companies Act 2013, the Charge must be filed with ROC within a period of 30 days from the date of creation of Charge. If the Charge is not registered within the period of 30 days, the ROC may grant the additional 30 days on application and even the Charge is still not created, the ROC may grant the time limit of 60 days along with advolerem fees. Maximum time limit for creation charge is 120 days along with additional fees. after the expiry of 120 days, there is the penal and prosecution consequences.
Jatin Bajaj
(CS)
(2930 Points)
Replied 03 June 2019
Yes as per the provisions of LLP Act, LLP shall also create charge on the Loan taken in Form 8 along with the relevant attachments.
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