Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013

Last updated: 18 June 2020

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The Ministry of Corporate Affairs has introduced a scheme to provide relief for companies facing delays in filing forms related to the creation or modification of charges. This scheme extends the filing deadlines due to the impact of COVID-19. It applies to specific forms (CHG-1 and CHG-9) where the charge creation or modification occurred before March 1, 2020, or between March 1, 2020, and September 30, 2020. The period from March 1, 2020, to September 30, 2020, will not be counted towards the statutory filing days, offering a window for compliance.

F.No. 02/05/2020 CL-V Government of India Ministry of Corporate Affairs 5th Floor, A Wing, Shastri Bhawan, Dr. Rajendra Prasad Road, New Delhi-1. General Circular No. 23/2020 Dated: 17th June, 2020 To All Regional Directors, All Registrar of Companies, All Stakeholders. Subject:Sc

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FAQ :

The scheme provides a relaxation of time for filing forms related to the creation or modification of charges under the Companies Act, 2013, to help companies comply despite the impact of COVID-19.

The scheme is applicable to Form No. CHG-1 and Form No. CHG-9, which are used for the creation or modification of charges.

The scheme applies if the charge was created or modified before March 1, 2020 (and the filing deadline hadn't passed by then), or if it occurred between March 1, 2020, and September 30, 2020, inclusive.

For applicable situations, the period from March 1, 2020, to September 30, 2020, will not be counted when calculating the days for filing under sections 77 or 78 of the Act.

If forms are filed by September 30, 2020, the fees payable as of February 29, 2020, will be charged. Filing after this date may incur additional fees based on the extended timeline.

The scheme comes into effect from the date of the issue of the circular, which is June 17, 2020.