Creation of charge with roc

Hi

A startup company in needs of funds,  have approached banker and  the OD facility has been activated . The banker and the company have not created charge with ROC . The startup was not aware of this process . Few questions

1. What is the maximum time allowed for charge creation ?

2. What is the procedure if the one exceeds the  time limts ?

3. What is the penalty  ...

Will it be  huge can the  startup to take this burden .... Request advice guys Rgds Sri