Charge Creation

Need Charge Creation?

Charge Creation Starting at Just Rs.4,999/- onwards (Inclusive of all Govt. Fees).

Charge Creation

All Companies borrow money for their business. When Companies borrows loan they offer security to the lender. The lender may be a Bank, NBFC etc. Company gives security to the lender by way of mortgage of tangible or intangible property owned by Company or someone else. The property may be situated within India or outside India. It is the duty of Company creating charge to register the charge with the Registrar of Companies within thirty days of its creation. The Registrar of Companies may condone the delay beyond thirty days if he is satisfied that Company had sufficient cause for not filing charge within thirty days. Condonation of delay may be done on payment of extra fees. However, if the delay in Registration of Charge is beyond three hundred days, the Registrar of Company will not grant permission to register the charge unless the delay is condoned by the Central Government. It is therefore very important to register charge within the time limit.

Businessgig can help you to register charge for your Private Limited or Public Limited Company.

Expert from Businessgig will understand the specific requirements and fill up the specified forms for Charge Registration.

The filled up forms will be sent to your banker for applying DSC.

Success means having the courage, the determination, and the will to become the person you believe you were meant to be.

Facts

  • As per Section 77 of the Companies Act, 2013, it is the duty of every company to Register the Charge with the Registrar of Companies.
  • The registration of charge means creation, modification or cancellation of charge on any tangible or intangible property of a company situated within or outside India.
  • It is Company’s duty to register the charge within 30 days of creation.
  • Registrar of Companies may condone delay up to 300 days on payment of additional fees it is satisfied that the Company had sufficient cause for not filing charges within thirty days.
  • For any delay beyond three hundred days the Registrar will not register the charge unless the delay is condoned by Central Government.
  • When a charge is registered, the Registrar of Companies issues Certificate of Registration of Charge.
  • It is company’s duty to inform the Registrar of Company within thirty days of satisfaction of charge.
  • On receipt of intimation of satisfaction of charge the Registrar of Companies will issue a certificate of Satisfaction of Charge.

FAQ

Whose duty is it to register charge?

It is company’s duty to register the charge with the Registrar of Companies

When a company has to register charge?

A company has to register charge with the registrar of companies within thirty days of creation, modification or satisfaction of charge.

What is creation of charge?

A Company mortgages it tangible or intangible property, situated within or outside India, with a lender for taking finance. This mortgage when registered with the Registrar of Companies, it called creation of charge.

What is modification of charge?

When there are changes in the terms of mortgage, rate of interest, amount of advance etc, a separate agreement to the effect is made. This modification is to be registered with the Registrar of Companies as modification of charge.

What is satisfaction of charge?

When Company repays the loan or advance taken from the lender, the lender issues a letter that there is no outstanding in the name of the Company. The company has to register this with the Registrar of Companies as satisfaction of charge.

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