jain.sejal29@gmail.com (Company Secretary) (21 Points)
28 April 2023What can be done if Form CHG-1 is not filled within 120 days? can we go for condonation? please advise at the earliest
Jatin Bajaj
(CS)
(2928 Points)
Replied 03 May 2023
If the charge is not filled within a period of 120 days, , the Company needs to file the application to the Central Government under section 460 of the Companies Act 2013 for condone of delay which states that where any form is required to be filled before the Registar, under any of the provisions of the Companies Act 2013, the central government may condone the delay
Shrijay Sheth
(Co-Founder)
(2692 Points)
Replied 09 May 2023
CHG-1 is an e-form that has to be filed by a company that wants to create or modify a charge other than relating to debentures. Section 77 of the Companies Act, 2013 states that every charge has to be registered within 120 days, after which no charge can be registered. However, if you had a valid reason for delay, you can make an application to the Central Government under section 460 of Companies Act, 2013, asking for relaxation of the time period for filing the charge.
If you have more queries or need any help regarding your company filings, you can reach out to us at LegalWiz.in
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