MCA vide Companies (Registration of Charges) Second Amendment Rules, 2022 notifies rule 13 for Signing of charge e-forms by insolvency resolution professional or resolution professional or liquidator for companies under resolution or liquidation. It further notifies revised Form No. CHG-1, Form No. CHG-4, Form No. CHG-6, Form No. CHG-8 and Form No. CHG-9.

The Form No.CHG-1, CHG-4, CHG-8 and CHG-9 shall be signed by Insolvency resolution professional or resolution professional or liquidator for companies under resolution or liquidation, as the case may be and filed with the Registrar.

Analysis by Corporate Laws & Corporate Governance Committee of ICAI

Amendment in the Companies (Registration of Charges) Rules, 2014

This is to inform you that the Ministry of Corporate Affairs vide its notification dated 29th August 2022 has amended the Companies (Registration of Charges) Rules, 2014.

After Rule-12, Rule-13 has been inserted and the said rule is about Signing of charge e-form by insolvency resolution professional or resolution professional or liquidator for companies under resolution or liquidation.

The amendments are as follows:

1) The Form No. CHG-1, CHG-4, CHG-8 and CHG-9 shall be signed by insolvency resolution professional or resolution professional or liquidator for companies under resolution or liquidation as the case may be and filed with registrar of companies.

2) Particulars of Form CHG-1 have been amended and have been substituted with new form CHG-1.

3) Particulars of Form CHG-4 have been amended and have been substituted with new form CHG-4.

4) Particulars of Form CHG-8 have been amended and have been substituted with new form CHG-8.

5) Particulars of Form CHG-9 have been amended and have been substituted with new form CHG-9.

Full text of the Notification is as follows:-

GOVERNMENT OF INDIA
MINISTRY OF CORPORATE AFFAIRS
NOTIFICATION

New Delhi, dated 29th August, 2022

G.S.R. 664(E).—In exercise of the powers conferred by sections 77,78, 79,81,82,84,85,87 read with sub-sections (1) and (2) of section 469 of the Companies Act, 2013 (18 of 2013), the Central Government hereby makes the following rules further to amend the Companies (Registration of Charges) Rules, 2014, namely:‑

1. Short title and Commencement. – (1) These rules may be called the Companies (Registration of Charges) Second Amendment Rules, 2022.

(2) They shall come into force from the date of their publication in the Official Gazette.

2. In the Companies (Registration of Charges) Rules, 2014 (hereinafter referred to as the said rules), after rule, 12, the following rule shall be inserted, namely:‑

“13. Signing of charge e-forms by insolvency resolution professional or resolution professional or liquidator for companies under resolution or liquidation.

The Form No.CHG-1, CHG-4, CHG-8 and CHG-9 shall be signed by Insolvency resolution professional or resolution professional or liquidator for companies under resolution or liquidation, as the case may be and filed with the Registrar.

3. In the said rules, for Form No.CHG-1, the following Form shall be substituted namely: –

Form No. CHG-1

Application for registration of creation, modification of charge (other than those related to debentures) including particulars of modification of charge by Asset Reconstruction Company in terms of Securitization and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI)

[Pursuant to sections 77,78 and 79 and pursuant to Section 384 read with 77,78 and 79 of the Companies Act, 2013 and Rule 3(1) and 13 of the Companies (Registration of Charges) Rules 2014]

*****

4. In the said rules, for Form No. CHG-4, the following Form shall be substituted namely:-

Form No. CHG-4

Particulars for satisfaction of charge thereof

[Pursuant to section 82(1) of the Companies Act, 2013 and Rule 8(1) and 13 of the Companies (Registration of charges) Rules 2014]

*****

5. In the said rules, for Form No. CHG-6, the following Form shall be substituted namely:‑

Form No. CHG-6

Notice of appointment or cessation of receiver or manager

[Pursuant to section 84(1) and pursuant to Section 384 of the Companies Act, 2013 and Rule 9 of the Companies (Registration of charges) Rules 2014]

*****

6. In the said rules, for Form No. CHG-8, the following Form shall be substituted namely:-

Form No. CHG-8

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

[Pursuant to section 77(1) read with 87 of The Companies Act, 2013 and rule 12(2) and 13 of The Companies (Registration of charges) Rules 2014]

****

7. In the said rules, for Form No. CHG-9, the following Form shall he substituted namely:-

Form No. CHG-9

Application for registration of creation or modification of charge for debentures or rectification of particulars filed in respect of creation or modification of charge for debentures

[Pursuant to sections 71(3), 77,78 & 79 and pursuant to Section 384 read with 71(3), 77, 78 and 79 of The Companies Act, 2013 and Rule 3 and 13 of The Companies (Registration of charges) Rules 2014]

*****

[F.No. 01/10/2013 CL-V]

Manoj Pandey

Joint Secretary to the Government of India

Note: The principal rules were published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (1), vide number G.S.R. 248(E), dated the 31st March, 2014 and subsequently amended vide the following notifications, namely:-

Serial Number Notification Number Notification Date
1. G.S.R 440(E) 29th May, 2015;
2. G.S.R. 339 (E) 7th April, 2017;
3. G.S.R. 614 (E) 5th July, 2018;
4. G.S.R. 1218 (E) 18th December, 2018;
5. G.S.R. 342 (E) 30th April, 2019 and
6. G.S.R.   320 (E) 27th April, 2022

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