For fresh charge creation

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Querist : Anonymous

Querist : Anonymous (Querist)

14 December 2012 Dear sir(s),

Pls elaborate the procedure for fresh charge creation of a limited company.
like which e-form file with ROC, time limits, what are the attachments required, B.R. is necessary or not ?

With Regards,

Vicky Srivastav

Ajay Mishra

Ajay Mishra (Expert)
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14 December 2012 Hi

Charges requiring Registration
As per section 125(4), the following kinds of charges are mandatory and these charges needs to be registered with the Registrar of Companies:—
(a) A charge for the purpose of securing issue of debentures;
(b) A charge on uncalled share capital;
(c) A charge on the immovable property, wherever situated, or any interest therein;
(d) A charge on any book debts;
(e) A charge, not being a pledge, on any movable property;
(f) A floating charge on the undertaking or any property of the company including stock-in-trade;
(g) A charge on calls made but not paid. Section 14 of the Banking Regulation Act, 1949 debars a bank from creating a charge on any unpaid capital;
(h) A charge on a ship or any share in a ship;
(i) A charge on a goodwill, patent or on a license under a patent or on a trademark or on a copyright or license under a copyright.

Ajay Mishra

Ajay Mishra (Expert)
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14 December 2012 Time-limit for filing of e-Form 8

E-Form 8 with complete requirement must be filed within a period of thirty days from the date of creation or modification of charge on online basis with the RoC along with copy of instrument creating the charge and with the required filing fees as per Schedule X to the Companies Act, 1956, within a period of thirty days after the execution of deed containing the charge or if there is no such deed, after the execution of any debentures of the series.
The concerned RoC may allow filing requisite particulars within a period of thirty days next following the expiry of initial thirty days after the date of creation or modification of charge subject to payment of such additional fee not exceeding ten times the amount of fee specified in Schedule X of the Companies Act. However, it is expected that only one time additional filing fee shall be charged by the computer as penalty.

Ajay Mishra

Ajay Mishra (Expert)
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14 December 2012
Responsibility for filing particulars for registration of charge:

It shall be the duty of a company to file with the Registrar, for registration, the particulars of every charge created by the company, and of every issue of debentures of a series, requiring registration under Part V of the Companies Act.
Particulars for registration of any charge may also be filed by any person interested therein. In this connection, it may be noted that section 134(2) provides that where registration is affected on the application of some person other than the company, that person shall be entitled to recover from the company, the amount of any fees properly paid by him to the Registrar.
If particulars of charge have been sent and Registrar conveys an objection, charge is deemed to have been registered, though they have not in fact been registered. [State Bank of India v Depro Foods Ltd. (1988) 64 Comp Cas 375 (P&H)].

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