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of <h1>Understanding Charge Creation and Registration Under Companies Act 1956: Key Sections 124, 125, 127, 135, 138, 140</h1> The the procedures for the creation and registration of charges under the Companies Act, 1956. It distinguishes between fixed or specific charges and floating charges, explaining that a floating charge remains until company winding up unless crystallized by creditors. Section 124 addresses invalidity of floating charges created within twelve months before winding up unless solvency is proven. Registration requirements include filing particulars with the Registrar within 30 days of charge creation or property acquisition subject to charge (Sections 125, 127). Companies must report charge satisfaction to the Registrar, who verifies and records it (Sections 138, 140). Modifications to charges must also be reported within 30 days (Section 135).
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