Registration of charges: failure to file required particulars triggers fines against companies and responsible officers. Failure to file with the Registrar required particulars of a company charge, satisfaction of a debt secured by a registered charge, or issues of a debenture series renders the company and every officer or person in default punishable by a fine which may accrue for each day the default continues. Other defaults in complying with statutory registration requirements concerning charges or related facts attract separate fines against the company and defaulting officers, without prejudice to other liabilities.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Registration of charges: failure to file required particulars triggers fines against companies and responsible officers.
Failure to file with the Registrar required particulars of a company charge, satisfaction of a debt secured by a registered charge, or issues of a debenture series renders the company and every officer or person in default punishable by a fine which may accrue for each day the default continues. Other defaults in complying with statutory registration requirements concerning charges or related facts attract separate fines against the company and defaulting officers, without prejudice to other liabilities.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.