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As per section 2(16) of the Companies Act, 2013, charge means an interest or lien created on assets or property of the company or any of its undertaking.
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.
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.
|Companies Having Paid up Share capital||Fees Applicable|
|Less than Rs.1,00,000/-||Rs. 200/-|
|Rs.1,00,000/- to Rs.5,00,000/-||Rs.300/-|
|Rs.5,00,000/- to Rs.25,00,000/-||Rs.400/-|
|Rs.25,00,000/- to Rs.1,00,00,000/-||Rs.500/-|
|More than Rs.1,00,00,000/-||Rs.600/-|
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.
|Period of Delay||Small Companies and One Person Company||Other than Small Companies and One Person Company|
|Up to 30 days of Delay i.e., Up to 60 Days from the date of Creation.||3 times normal fees||6-time normal fees|
|More than 30 days and up to 90 days delay i.e., up to 120 days from the date of creation.||3 times of normal fees plus an ad valorem fee of 0.025% of the amount secured by the charge subject to the maximum of rupees One Lakh||6 times of normal fees, plus an ad Valorem fee of 0.05% of the amount secured by the charge, subject to the maximum of rupees five lakhs.|
Ans: After the registration of charge with the registrar, the registrar shall issue a Certificate of registration or modification of charge to the company.
Ans:If any company fails to comply with any of the provisions related to Charge, the company shall be liable to pay penalty of five lakh rupees and every officer of the company who is in default shall be liable to a penalty of fifty thousand rupees.
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.
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
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.
|Companies Having Paid Up Share Capital||Fees Applicable|
|Less than 1,00,000||Rs 200|
|Rs.1,00,000 to Rs. 4,99,999||Rs.300|
|Rs. 5,00,000 to Rs.24,99,999||Rs.400|
|Rs. 25,00,000 to Rs. 99,99,999||Rs.500|
|Rs. 1,00,00,000 or more||Rs.600|
*(Exclusive of Government fees & taxes)
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