Registration of Charge
Once Registration of charges is made, it turns into the obligation of the organization to enlist those accuses to the Registrar of Companies. Alongside the archives that make a charge over the organization.
According to the Companies Act, 2013, mentioned below are accompanying charges made on an organization must be enlisted with the Registrar of Companies :
- The charge is made to secure any issue of debentures or stores.
- Charge on the uncalled share capital of the organization.
- Charge or any intrigue on any steady property, wherever arranged.
- A charge on any book obligation of the organization.
- A charge, not being a promise, however, on any portable property of the organization.
- A drifting charge on the endeavor or any property of the organization incorporating stock-in-exchange.
- The charges on calls made yet not paid.
- A charge on a ship or an offer on a ship.
- A charge on elusive resources, Thus including altruism, patent, a permit under a patent, trademark, copyright, or a permit under copyright.
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MCA amends The Companies (Registration of Charges) Amendment Rules, 2018. The rules specified hereunder :
1. Rule 8- Satisfaction of Charge
Rule 8(1) shall be SUBSTITUTED, namely.
A Company or charge holder shall within 300 days from the date of payment or satisfaction in full or any charge registered under Chapter VI, give intimation of the same to the Registrar in Form No. CHG-4 along with the Fee.
2. Rule 12 – Condonation of Delay and Rectification of Registration of Charges.
Rule 12(1) Where the instrument creating or modifying a charge is not filed within a period of three hundred days from the date of its creation (including an acquisition of a property subject to a charge). However, the modification in Registration of charges and where the satisfaction of the charge is not filed within Three Hundred Days from the date on which such payment of satisfaction. Therefore, the Registrar shall not register the same unless the delay is condoned by the Central Government.
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