1. Time Period For Creation/Modification Of Charge:

For Creation / Satisfaction of Charge Form CHG-1/ CHG-4 will be within 30 days of Creation/ Satisfaction of Charge.

If the company fails to file within 30 days?

Companies may allow such registration to be made within a period of 300 days of such creation

If the Company fails to file within 300 days?

Company shall seek an extension of time in accordance with section 87 from the Central Government.

2. Process For Approval Of Central Government For Condonation Of Delay In Creation/Modification/Satisfaction Of Charges

STEP 1:

Company will file Chg 1/ Chg 4 for creation/ satisfaction of a charge with additional fees.

Step 2:

Convey a Board Meeting and pass a Resolution regarding condonation of delay for filling E form.

STEP-3:

File GNL 2:

Attachments in Form GNL-2 (Submission of documents with the Registrar)

  1. Board resolution regarding condonation of delay for filling E  form
  2. Form Chg 1/Chg 4 form and its Challan
  3. Petition before RD
  4. Affidavit verifying the petition
  5. Memorandum of appearance
  6. MOA

STEP 4:

File form CHG 8 (Application to Central Government for extension of time for filing particulars of registration of creation / modification / satisfaction of charge OR for rectification of omission or misstatement of any particular in respect of creation/ modification/ satisfaction of charge)

Attachments:

  1. Board resolution
  2. Chg1/Chg 4 form and its Challan
  3. Form GNL 2 and Challan
  4. Hypothecation deed for the creation of charge
  5. No due certification in case of satisfaction of a charge
  6. Petition before RD
  7. Affidavit verifying the petition
  8. Memorandum of appearance
  9. MOA

Step 5:

File INC-28 with the ROC within 30 days of passing order

Attachments:

  1. Copy of order
  2. Challan of penalty

Where the satisfaction of charge is registered with the Registrar, he shall issue a memorandum of satisfaction of charge in Form CHG- 3 which shall be conclusive evidence that the requirements of Chapter VI of the Act and the rules made thereunder have been complied with

3. Format Of Affidavit Verifying The Petition

FORMAT OF AFFIDAVIT VERIFYING THE PETITION

BEFORE THE REGIONAL DIRECTOR,

IN THE  MATTER OF THE COMPANIES ACT, 2013 SECTION 87 AND RULE 12 (2)

AND

IN THE MATTER OF NAME OF COMPANY 

Affidavit Verifying the Petition

I, ______________S/O___________ a Resident ____________do hereby solemnly declare and affirm as under:

1. That I am the Director of NAME OF COMPANY (CIN-) and have been duly authorised by the Board of Directors of the above named Petitioner Company vide their Resolution dated to sign and file as Authorised Signatory of the said Company’s Petition to the REGIONAL DIRECTOR, For, condonation of delay in filing of Form CHG-4 relating to satisfaction of charge in favour of Name of bank.

2. I am conversant with facts and circumstances of the application filed in CHG-8 and GNL-1 and I am duly authorized to execute, file and peruse the application for condonation of delay for filing particulars of satisfaction of charge and all the particulars filled in the application are true and fair to the best of my knowledge.

3. That the Annexure to the petition are true copies of their original and a copy of the aforesaid resolution dated of the Board of Directors of the petitioner is enclosed.

4. I solemnly affirm that this declaration is true and it conceals nothing and no part of it is false.

DEPONENT 

VERIFICATION

Solemnly affirmed before me on _________________

DEPONENT

4. Format of Board Resolution

               FORMAT OF  BOARD RESOLUTION

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE BOARD MEETING OF THE DIRECTORS OF  ______________HELD ON, ___________AT B___________ AT 11.00 A.M.  

RESOLVED THAT Name of Director having (Din No:            ), Director of the Company be and is hereby authorized to verify, sign affirms and/ or present the petition, affidavits and other papers/ documents and statements forming part of the  petition regarding application requesting for condonation of delay for filling  E  form-CHG-4  for satisfaction  of  charge,  on  behalf of  the  company,  to  the Regional Director, or any other authority, as required under Section 87 and Rule 12 (2) of the Companies Act, 2013.

RESOLVED  FURTHER THAT _______________Practicing Company  Secretary,  failing  which such  other  persons eligible  to appear  before the Regional Director, be and are hereby severally authorized to appear, on behalf of the Company and to act for every purpose connected with the petition under section 87 and Rule 12  (2)  and other applicable provisions of the Companies Act, 2013.”

 ——————

5. Format Of Memorandum of Appearance

FORMAT OF MEMORANDUM OF APPEARANCE

BEFORE THE REGIONAL DIRECTOR

______ REGION

 

To,

Regional Director, 

IN THE MATTER OF THE COMPANIES ACT, 2013 SECTION 87 AND RULE12 (2)

      AND 

           IN THE MATTER OF Name of company

(A Company Registered Under The Companies Act, 2013 Having Registered Office  at                )

                                                                                                         ……… PETITIONER

Dear Sir,

Please take notice that, I, Name of CS , proprietor of___________, Practicing Company Secretary, duly authorized to enter an appearance, and do hereby enter an appearance, on behalf of Name of company, the petitioner in the above-mentioned petition.

A copy of the Resolution passed by the Board of directors of the Company authorizing us to enter an appearance and to act for every purpose connected with the proceedings for the said party is enclosed, duly signed by us for identification.

                                                                                                                        Yours Sincerely,

Place:

Date:   

 ——————–  

6.  Format of PETITION 

Format of PETITION 

BEFORE THE REGIONAL DIRECTOR,

IN THE MATTER OF THE COMPANIES ACT, 2013 SECTION 87 AND RULE12 (2)

AND

IN THE MATTER OF NAME OF COMPANY

…PETITIONER

BY THIS HUMBLE PETITION: 

SUBJECT: PETITION UNDER SECTION 87 and Rule 12 (2)  OF THE COMPANIES ACT, 2013 FOR CONDONATION OF DELAY IN FILING OF FORM CHG-4 RELATING TO SATISFACTION OF CHARGE WITH THE REGISTRAR OF COMPANIES.

States as follows:-

1. DETAILS OF PETITION:

Applications under section 87 and Rule 12 (2) of the companies act 2013, for condonation of delay of 3days in satisfaction of charge.

2. PARTICULARS OF THE APPLICANT :

1. The petitioner (hereinafter called the company) was originally incorporated on _________as a Company limited by Shares under the name Nameof company vide Company No. ___________in the state of_______.

2. The Registered Office of the Company is situated at

3. The objects of the Company are as set out in the clause III in the Memorandum of Association as annexed hereto.  A copy of the Memorandum of Association and is enclosed herewith and marked as Annexure – A.

4. The Authorized Share Capital of the Company is RS______  divided into ___________________Equity Shares of Rs.10(Ten) each.                                 

3. FACTS OF THE CASE:

4. REASONS FOR DELAY IN FILING OF E FORM CHG 4 :

1. That the  Petitioner  Company  declares  that  it  had   not   previously  filed    any   Application, writ petition or suit regarding the matter in respect of which this  petition has made, before any court of law or any other authority or any other Bench of the Board and nor any such application, writ petition or suit is pending before them.

2. That the Company shall submit any other information documents as may be required by the Hon’ble Regional Director.

3. That the  interest  of  none  of  the  creditor/ shareholder  or  any  person  at large is prejudiced if the delay is condoned by the Hon’ble Bench. Further, no one will be prejudiced if the delay is condoned.

4. Memorandum of Appearance is enclosed as “_________________ “.

5. RELIEF:

The petitioner therefore prays humbly that:

1. The delay in filing of CHG – 4 with the Registrar of Companies, for a period _____________may kindly be condoned and approve the Form CHG 4 filed vide SRN on.

2. To pass such order which the Hon’ble Bench may deem fit in this connection.

7. Index of Documents

S.No. Particulars Annexure
1. Certified Copy of Memorandum of Association
2. Certified copy of Form CHG 1 filed and registered with the Registrar of Companies, relating to creation of charge
3. Certified copy of the resolution
4. Memorandum of Appearance

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5 Comments

  1. chandan todi says:

    In case of satisfaction of charge once inc-28 is filed , does roc provide satisfaction of charge ( chg-5) on their own or we have to apply for it ?

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