Roc compliance
This query is : Resolved
06 January 2016
Sir,
I want to know about ROC compliance when A private company purchased fixed assets and finance same from banks and Financial Institutions.
I want to know about ROC compliance when A private company purchased fixed assets and finance same from banks and Financial Institutions.
09 January 2016
Then you have to file CHG-1 for creation of charge in favour of Bank and financial institution with in 30 days of enterance into agreement.
Message likes :
1 times
12 January 2016
Thank you sir,
Further What are the Panelties for non complaince i.e. filing after the said period of 30 days ?
Further What are the Panelties for non complaince i.e. filing after the said period of 30 days ?
22 July 2025
When a private company creates a charge on its fixed assets in favor of a bank or financial institution, it must file Form CHG-1 with the ROC within 30 days from the date of creation of the charge.
Penalties for late filing of CHG-1:
If the company fails to file the charge creation form within 30 days, it can file the form with additional fees.
Additional fees (penalty) are Rs. 1,000 per day of delay from the 31st day till the date of filing, subject to a maximum limit.
The maximum penalty can be up to Rs. 1,00,000 (Rs. 100,000) for delayed filing.
Failure to file the charge may also result in the charge not being enforceable against third parties, affecting the security interest of the bank/financial institution.
Penalties for late filing of CHG-1:
If the company fails to file the charge creation form within 30 days, it can file the form with additional fees.
Additional fees (penalty) are Rs. 1,000 per day of delay from the 31st day till the date of filing, subject to a maximum limit.
The maximum penalty can be up to Rs. 1,00,000 (Rs. 100,000) for delayed filing.
Failure to file the charge may also result in the charge not being enforceable against third parties, affecting the security interest of the bank/financial institution.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- When TDS on GST applied
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
