Relaxation of Timeline for Filing Forms Related to Creation or Modification of Charges

Due to the covid 19, the pandemic ministry has provided some sort of relief to aid stakeholders by cutting down the time frame as follows:

Applicability: CHG 1 and CHG 9

  • first case: Creation/modification made before 01.04.2021 but the due date for filing has not been expired under section 77 of Companies Act, 2013
  • Relaxation: In the case form filed under the above (I)case, the period between 01.04.2021 till 31.05.2021 shall not be reckoned under section 77 and 78 of the companies Act, 2013.

In case the form is not filed within such period .the the first day after 31.03.2021 shall be taken as 01.06.2021 for counting of days for forms need to file under section 77 or section 78.

  • second case: Creation/modification made after 01.04.2021 to 31.05.2021 (both date inclusive)
  • Relaxation: In the case form filed under the above(II) case, the period from creation/modification till 31.05.2021 shall not be reckoned. In case the form is not filed within such period .the the first day after creation/modification of charge shall be taken as 01.06.2021 for counting days for forms need to file under section 77 or section 78.

Fees:

a) for case (I)-If the form is filed on or before 31.05.2021 the fees payable as of 31.03.2021 shall be charged. If the form filed thereafter, the fees shall be charged after a number of days adding after 01.06.2021 till the date of form filed including time period lapse from the date of creation/modification till 31.03.2021.

b) for case (II)-If the form is filed before 31.05.2021 the normal fees shall be payable. If the form filed thereafter, the first day after creation/modification shall be counted from 01.06.2021 till the date form being filed for the purpose of payment of fees.

The circular shall not be applied:

a) CHG 1 & CHG 9 already filed on the date of circular.

b) The timeline already expired u/s 77 and 78 of companies Act,2013

c) The timeline will be expired at future date, despite the exclusion of the time April to May

d) Filing of form CHG 4

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Qualification: CS
Company: E-SMART SYSTEMS LIMITED
Location: New Delhi, Delhi, India
Member Since: 01 Feb 2018 | Total Posts: 10
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