Chg 1

iF THE cOMPANY HAS PASSED THE SPECIAL RESOLUTION AS PER SECTION 180(1)(A) OF THE COMPANIES ACT , AUTHORISING BOARD OF DIRECTORS TO CREATE CHARGE ON ASSETS OF THE COMPANY , THEN FORM MGT 14 SHALL BE FILLED ALONG WITH CERTIFIED COPY OF SPECIAL RESOLUTION WITHIN 30 DAYS OF PASSING SPECIAL RESOLUTION ( THIS PROVISION IS NOT APPLICABLE TO PRIVATE LIMITED COMPANY)

File Form CHG 1 FOR MODIFICATION OF CHARGE IF AFTER THE PERIOD OF 30 DAYS DAYS ALONG WITH THE FOLLOWING ATTACHMENTS:

A CERTIFIED TRUE COPY OF EVERY INSTRUMENT EVIDENCING ANY CREATION OR MODIFICATION OF CHARGE- EXAMPLE LAON AGREEMENT

IN ANNEXURE B ATTACH THE APPLICATION  SUPPORTED BY DECLARATION TO ROC IN FORM CHG 10  FROM THE COMPANY SIGNED BY COMPANY SECRETARY OR DIRECTOR THAT SUCH BELATED FILING SHALL NOT ADVERSLY AFFECT THE RIGHTS OF THE CREDITORS OF THE COMPANY.

AFTER  EVEIDENCING FULL DOCUMENTS , ROC SHALL ISSUE THE CERTIFICATE OF MODIFICATION OF CHARGE IN FORM CHG 3

ENETER THE DETAILS OF PARTICULARS OF MODIFICATION OF CHARGE DULY MAINTAINED BY THE COMPANY IN FORM CHG 7

Sir,

There is no such form as CHG 10 in MCA, Is it possible to file CHG 1 along with a declaration (a simple declaration letter signed by the directors as condonation of delay for filing after 30days but within 300 days) as an attachment. Special Resolution or Board Resolution is Required in this case. As per section 180(1)(c) of CA'13, "where the money to be borrowed together with the money aldready borrowed by the company will exceed aggregate of its paid up share capital and free reserves, apart from temporary loans..... ",special resolution is to be passed or else board resolution is enough. If board resolution is enough then is it necessary to file MGT 14. Our's is a Private limited company . I am confused whether to pass special resolution and file MGT 14.

Please help me...

Thanks 

AS PER MCA AMENDMENT 5TH JUNE 2015 , SECTION 180 IS NOT APPLICABLE TO PRIVATE LIMITED COMPANY. SO JUST NEED TO PASS BOARD RESOLUTION AND NO NEED TO PASS MGT 14.   AND ALSO SECTION 117(3)(G) WHICH DEALS WITH RESOLUTION TO BE FILED WITH ROC IS ALSO EXEMPT FOR PRIVATE COMPANIES. SO NO NEED TO FILE MGT 14 . JUST PASS BOARD RESOLUTION AT BOPARD MEETING. AND CHG 10 IS THE SIMPLE DECLARARTION WHIH NEEDS TO BE SIGNED BY DIRECTOR OR COMPANY SECRETARY WHICH YOU CAN ATTACH WITH CHG 1

THANK YOU SIR FOR YOUR VALUABLE INFORMATION.