Registration of charges: amended rules permit late filing with prescribed fees and provide rectification and fee recovery mechanisms. The 2019 amendment requires filing particulars of creation or modification of charges in Forms CHG-1 or CHG-9 within section 77 timelines on payment of prescribed additional or ad valorem fees; if the company fails to file, a charge holder who registers may recover fees from the company. The Registrar may, on satisfaction of sufficient cause for delay beyond thirty days, permit late registration within statutory extended periods on payment of applicable fees, with applications in CHG-1/CHG-9 supported by a director or company secretary declaration that intervening creditors' rights will not be adversely affected. The Central Government may, via Form CHG-8 under section 87, direct rectification of omissions or misstatements in charge records and extend time for filing satisfaction of charge where filing was not completed within 300 days.
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Registration of charges: amended rules permit late filing with prescribed fees and provide rectification and fee recovery mechanisms.
The 2019 amendment requires filing particulars of creation or modification of charges in Forms CHG-1 or CHG-9 within section 77 timelines on payment of prescribed additional or ad valorem fees; if the company fails to file, a charge holder who registers may recover fees from the company. The Registrar may, on satisfaction of sufficient cause for delay beyond thirty days, permit late registration within statutory extended periods on payment of applicable fees, with applications in CHG-1/CHG-9 supported by a director or company secretary declaration that intervening creditors' rights will not be adversely affected. The Central Government may, via Form CHG-8 under section 87, direct rectification of omissions or misstatements in charge records and extend time for filing satisfaction of charge where filing was not completed within 300 days.
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