registration of charge

[Priyanka Jain]

What is the procedure of charge creation under bank finance law????????? how many days required for   registration of charge will filed ????????. pls give all detail as soon as possible. its urgent

AI Summary

Understanding Charge Creation for Company Loans: Key Steps & Forms Under Bank Finance Law, Including Form 8 & Delay Condonation. A user inquired about the procedure for charge creation under bank finance law, specifically for a company taking a loan from a nationalized bank. A respondent explained the relevant rules and forms prescribed by the Central Government, including Forms I to IV for various registration purposes. The process involves preparing a deed of hypothecation, filing Form 8 within 30 days, and potentially seeking condonation of delay from the Company Law Board if filing is late. The procedure for condonation includes filing a petition with necessary documents and paying a fee. The discussion emphasized timely electronic filing and outlined steps for addressing delays.