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Procedure for filing CHG-1

If any company creates a charge within India or outside India, on its property or assets or any of its undertakings whether tangible or intangible is required to be register with registrar in form CHG-1 (For other than debenture) or form CHG-9 (For debenture) within 30 days of Creation/Modification of Charge.

Attachment

1. A Certified copy of the instrument or deed

2. In case of Joint charge, particulars of all joint charge holders

3. In case of filing of form beyond 30 days of creation of charge, declaration from the company signed by its director.

Fees Details for filing form CHG-1 and CHG-9

As per section 77, if company fails to register the charge within 30 days from the date of creation of charge, then the company has to register the same with Registrar along with additional fees.

In case of charges created after the Companies (Amendment) Act, 2019, within 60 days on payment of such additional fees of such creation and if not registered within 60 days, within further 60 days after payment of ad valorem fees.

The MCA has prescribed the following additional fees or ad valorem fees as the case may be, payable with effect from 01/08/2019.

Satisfaction of charge

As per section 82 of the Companies Act, 2013, the company shall intimate to the Registrar of the payment or satisfaction in full within a period of 30 days from the payment or satisfaction of such charge in form no CHG-4 along with fees.

Procedure

Conduct a Board Meeting: When Company repays the Secured Loan borrowed from bank or financial institutions, a board meeting needs to be conducted by the director of the company

Intimate to Roc within 30 days from the date of satisfaction of charge in form CHG-4

Attachment

1. No Dues Certificate/ No Objection Certificate duly obtained from the charge holder stating satisfaction of charge

2. Board Resolution taking note on satisfaction of charge.

Fees Details for filing form CHG-4