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Approval of Form No. 8

Yogesh Shah (Managing Corporate Finance) (1051 Points)

10 October 2009

Hye Folks,

Will anybody tell me that what is the procedure followed by MCA after Form No. 8 is being approved ?

Fact of the case - I filled Form No. 8 in respect of Public company with Digital signature of Director & sent it to Bank which is a charge holder. Form No. 8 will be uploaded after affixing Digital signature of Asst. General Manager of that Bank. When I asked their C.S. about approval, he said that we will get Search Report after approval.

Now I wanted to know (I could call him again & ask, but I choose this site)

that is getting Search Report means the final approval of Form No. 8 ?

or do we have to follow any further process after it ?

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5 Replies

Ekta (Practicing CS) (423 Points)
Replied 10 October 2009

Dear Yogesh,

First of all, Be clear that checking or conforming about the approval of Form-8 is different from the taking search from the MCA site.

Further, Who filed/ uploaded the Form?? was it filed from your side or from Bank?? If you filed the form then, you can track the approval of the form and if the form was filed by the Bank, then you have to call him up for conforming the approval of the form.

Further, The Search Report is the report which includes all the details of the Company, i.e. Name, Autho. and Paid up capital, directos details, reg. office address, clauses of Memo. and article about borrowing and common seal affixing, and the Details of Charges along with the creation and modification details.

Yogesh Shah (Managing Corporate Finance) (1051 Points)
Replied 12 October 2009

Originally posted by :Ekta
"	Dear Yogesh, First of all, Be clear that checking or conforming about the approval of Form-8 is different from the taking search from the MCA site. Further, Who filed/ uploaded the Form?? was it filed from your side or from Bank?? If you filed the form then, you can track the approval of the form and if the form was filed by the Bank, then you have to call him up for conforming the approval of the form. Further, The Search Report is the report which includes all the details of the Company, i.e. Name, Autho. and Paid up capital, directos details, reg. office address, clauses of Memo. and article about borrowing and common seal affixing, and the Details of Charges along with the creation and modification details.	"

Dear Ekta,

Form No. 8 is going to be filed by Bank.

If Search Report contains Company & Charge information, then what is the stage / scenario of form approval? I mean to say, how we will understand that Form is being approved by ROC? Is getting Search Report means approval of form?

Parixit Namdhar (CA) (131 Points)
Replied 13 October 2009

Dear Sir,

You will definately get a certificate of charge creation on the e mail address which you had given in form 8 and also one physical copy will be given by the ROC on address given in form once form get approved

Yogesh Shah (Managing Corporate Finance) (1051 Points)
Replied 14 October 2009

Ekta & Mr. Parixit,

Thnx for ur replies. My all doubts about the same are now resolved. Meanwhile, I got a call from Bank official & I asked him my doubts.

For me, it is clear - "Form no. 8 we file just to inform ROC that we, the Company, have created a charge. Getting Search Report means ROC has notified that fact. There is nothing approval kinda something in this procedure."

Am I right? Actually, I was thinking on lines of other ROC forms which require approval after online / challan payment. Hence, I thought in that way.

Ekta (Practicing CS) (423 Points)
Replied 15 October 2009

Yah, Search Report means a report about what is there on ROC/MCA records.We can download the documents filed by the Company and prepare search report from that source.