CONDONATION OF DELAY BY CENTRAL
GOVERNMENT IN CASE OF REGISTRATION OF CHARGE
(Rectification by Central Government in
Register of Charges)
(Section
87 of the Companies Act, 2013 and Companies (Registration of Charges) Rules,
2014)
Please Note that Power of
Central Government has been delegated to Regional Directors vide notification
dated 19th December, 2016.
INTRODUCTION
As per
section 87 of the Companies Act, 2013, where the instrument creating or
modifying a charge is not filed within a period of 300 days from the date of
its creation or modification and where the satisfaction of the charge is not
filed within 30 days from the date on which such payment of satisfaction, the
Registrar shall not register the same unless the delay is condoned by the Regional
Directors.
The Regional Directors on
being satisfied that-
1.
The particulars of registration of
Creation/modification/satisfaction of charge could not be filed with the
Registrar within the time, or
2. The omission or mis-statement of any particulars in respect
of creation/modification/satisfaction of charge was,
due to accidental or due to inadvertence or some other sufficient cause
or it is not of a nature to prejudice the position of creditors or shareholders
of the company; or on any other grounds, it is just and equitable to grant
relief, it may on the application of
the company or any person interested and on such terms and conditions as it may
seem to the Regional Directors just
and expedient, direct that the time for the filing of the particulars of
Registration of creation/modification/satisfaction of charge shall be extended
or the omission or mis-statement shall be rectified.
PROCEDURE
The
application for Condonation of delay for registration of
creation/modification/satisfaction of charge or for rectification of omission
or mis-statement in respect of creation/modification/satisfaction of charge
shall be filed with the Regional Directors in e-Form CHG-8 along with the
fee with the following attachments:
1.
Instrument creating/modifying/satisfying the Charge
2. Certified true copy of the Board Resolution authorizing
for filing the application and appointing authorized representative, if any.
3.
Petition
4.
Affidavit verifying the petition by the director of the
company authorized for the same
5.
Memorandum of Appearance by the Authorized
representative appointed for the same
6.
Certified Copy of the CHG-1/CHG-9/CHG-4 with challan
7.
Letter of Authorization (In case of authorized
representative of a foreign company)
8.
Other document, if any.
NOTE:
Petition along with the documents mentioned above and certified copy of CHG-8
with the challan shall also be filed physically with the concerned Regional
Directors.
The order
passed by the Regional Directors shall be filed with the
Registrar in e-Form INC-28 along with the fee and as per the conditions
stipulated in the said order.
PENALTY
If
any company contravenes any provision of the Chapter VI – Registration of
Charge and the rules made there under,
1.
the company shall be punishable with fine which shall not be
less than Rs. 1 Lakh but which may extend to Rs. 10 Lakh, and
2.
every officer of the company who is in default shall be
punishable with imprisonment for a term which may extend to 6 months or with
fine which shall not be less than Rs. 25,000/- but which may extend to Rs. 1
Lakh, or with both.
Contact Details:
VISHAL SHARMA
Company Secretary
Mob: 9716763754
Email: csvishalpbs@gmail.com
Please note that for any query and consultancy Rs. 500/- will be charged.
FOR MORE ARTICLES VISIT TO:
http://csvishalsharma.blogspot.in/
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Disclaimer: The Content is prepared on the basis of our general understanding and on the basis of relevant provision of Companies Act, 2013 read with rules made there under. The whole content is only for the knowledge sharing purpose, we do not take any responsibility for the correctness of the same.
Disclaimer: The Content is prepared on the basis of our general understanding and on the basis of relevant provision of Companies Act, 2013 read with rules made there under. The whole content is only for the knowledge sharing purpose, we do not take any responsibility for the correctness of the same.
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