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of <h1>Transfer of Rights by Charge-Holder Modifies Charge, Requires Registration u/s 135; File Form No. 141 for Compliance.</h1> The circular addresses whether the transfer or assignment of rights by a charge-holder constitutes a modification of charge under section 135, necessitating the filing of a return by the company to the Registrar of Companies using Form No. 141 and paying the prescribed fee. It concludes that such a transfer does indeed modify the charge, requiring registration. This practice ensures that the Registrar's register of charges accurately reflects the current charge-holders, thus allowing creditors and shareholders to identify them. Consequently, companies must register these modifications to maintain transparency and compliance.
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