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modification of charge

Mayuri Lal (officer CS) (748 Points)

24 January 2011

Dear memmbers,

Acharge originally created has been modified twice i.e on 29.12.2010 for Equitable Mortgage and on 31.12.2010 for deed of hypothecation. and the form is related to NCD thereforre Form 10 will be filed.

Since there two modifications and is to be filed within 30 days, soo does it require 2 form 8 for 29.12.2010 and 31.2010 or single form 10 is sufficient. bkoz we are filing form 10 for modification within 30 days soooo two forms will be filed for the above two dates.

Can anyone tell me the provision regarding teh same

Regards,

Mayuri Lal

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6 Replies

Jayashree S Iyer (Company Secretary) (3224 Points)
Replied 24 January 2011

To my knowledge one form is sufficient.

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Charu (nil) (122 Points)
Replied 24 January 2011

Hi,

You can file only one Form 8 mentioning therein the modifications effected on two diffrent occassions. One form will be sufficient.

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 24 January 2011

iN MY OPIINIION THERE SHOULD BE SEPERATE FILING FOR BOTH MODIFICATIONS.

Because the limits changed and then changed from the changed limits. So both changes required to be registered.

cs ashwini kumar (Company Secretary in Practice) (173 Points)
Replied 25 January 2011

Pursuant to provisions of Section 135 of the Companies Act, 1956, whenever the terms or conditions, or the extent or operation, of any charge registered under this Part are or is modified, it shall be the duty of the company to send to the Registrar the particulars of such modification, and the provisions of this Part as to registration of a charge shall apply to such modification of the charge. Accordingly, you shall have to file two seperate e-forms- 8 (one after another on FIFO method) for modification. Further, for each filing of e-Form 8, the ROC issue a certificate of modification such charge.

Regards

CS Ashwini Kumar