Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013. (MCA Circular dated 03.05.2021)

General Circular No.07/2021 i.e Relaxation of time for filing of CHG-1 (Creation/Modification of Charge) and CHG – 9 (creation/ modification of charge for debenture) applicable only for charge created on or after 02.12.2020 and in this regard here are following situation arises:

1. If charge created on or after 03.12.2020 but before 01.04.2021, and timeline of 120 days or after receiving 14 days show cause notice by ROC after the expiry 30 days, from the date of creation/modification (as the case may be) had not expired then the period from 01.04.2021 to 31.05.2021 shall not be counted for the aforementioned period, and forms need to be filed on or before 31.05.2021

2. If Form will not file on or before 31.05.2021, for the aforementioned timeline, number of days started from 01.06.2021 ending with date of filing of form inclusive with date expired till 31.03.2021, OR

3. If Charge is created between 01.04.2021 to 31.05.2021 (both dates inclusive) then aforementioned timeline started from 01.06.2021.

Forms need to be filed on or before 31.05.2021 in any situation.

Eg.  For situation 1, If form will not file on or before 31.05.2021,

Charge was created on 01.03.2021 and 30 day expired on 30.03.2021, then the last date of filing of forms will be 29.08.2021 because 30 days of March will be included on it and now allow only next 90 days for filing.

This Circular Not Applicable to:

  • CHG-4 (Satisfaction of Charge)
  • Timeline for filing forms expire at future date despite exclusion of relaxation
  • Timeline has already expired prior to 01.04.2021
  • CHG-1 & CHG-9 filed before this circular

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4 Comments

  1. ABRAHAM PP says:

    Fine for filing of return is exorbitant .It seems central government is terminator of of companies.please reduce the penalties.

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