Rectification of register of charges shifted to Registrar of Companies, streamlining jurisdiction and reducing time and cost. Jurisdiction for rectification of register of charges under the Companies Act, 1956 is shifted from the Company Law Board to the Central Government and delegated to the respective Registrar of Companies; pending petitions before the Company Law Board will be transferred to the concerned Registrar. Revised MCA 21 e forms and business processes will set out simplified procedures for companies and Registrars, with the expectation that delegation and streamlined e forms will reduce time and cost for condonation applications.
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Provisions expressly mentioned in the judgment/order text.
Rectification of register of charges shifted to Registrar of Companies, streamlining jurisdiction and reducing time and cost.
Jurisdiction for rectification of register of charges under the Companies Act, 1956 is shifted from the Company Law Board to the Central Government and delegated to the respective Registrar of Companies; pending petitions before the Company Law Board will be transferred to the concerned Registrar. Revised MCA 21 e forms and business processes will set out simplified procedures for companies and Registrars, with the expectation that delegation and streamlined e forms will reduce time and cost for condonation applications.
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