Charges Creation in ROC

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J DAMODARAN (Querist)

13 September 2019 Dear Sir,
What is the procedure to create a charges in ROC for a PVT LTD Co. (Term Loan Taken for Purchase of Machinery in a Manufacturing Co). what are the document required. is UDIN is requied. Please help
Thanks

CS VENKATARAMANAN S

CS VENKATARAMANAN S (Expert)

14 September 2019 Dear Friend,
File CHG-1 with the Loan Sanction Letter as attachment and fill the details about the loan like amount of loan, percentage of interest, term, conditions etc., No further attachments needed. 3 digital signatures needed for this one from the company authorised signatory, 2nd from the lending institution authorised signatory and 3rd one is the practising professional (CA orCS or CMA).
The form should be filed before 30 days from the creation or modification of the Charge. In case the form CHG 1 is filed by the charge holder beyond 30 and within 300 days from the date of charge creations or modification of delay is required to be filed in the Form CHG-8 after filing this eForm and this Form will be processed by the ROC office after the order of Central Government for approval for condonation of delay in Form INC.28 has been filed.
In case the form CHG 1 is filled by the company or the charge holder beyond 300 days from the date of charge modification or creation, then the application to Government for condonation of delay need to be filed in the Form CHG 8 after filing this eForm and this Form will be processed by the ROC after order of Central Government for approval for condonation of delay in the Form INC.28 has been filed.

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