1. REGISTRATION OF CHARGES (section 77- 87)

2. “CHARGE” means an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage. [Section 2(16)]

3.  EVERY company creating charge( in INDIA/Outside) must register the CHARGE with ROC in 30 days of creation/modification.  on its property or assets  any of its undertakings  whether tangible or otherwise  situated in or outside India  signed by the company and the charge-holder together with the instruments, if any, creating such charge in such form.  Application for registration of creation, modification of charge (other than those related to debentures) - FORM No. CHG- 1

4. ( 1- 30 DAYS FROM DATE OF CREATION ) REGISTER CHARGE WITH ROC WITH NORMAL FEES (FORM NO. CHG -1) (31-300 DAYS FROM DATE OF CREATION) REGISTER CHARGE WITH ROC WITH ADDITIONAL FEES (FORM NO CHG -10) (AFTER 300 DAYS FROM DATE OF CREATION) APPLICATION TO CENTRALGOVERNMENT FOR EXTENTION OF TIME (FORM NO. CHG – 8)

5.  COMPANY shall Register within 30 days from the date of payment or satisfaction of Charge.  NO notice is required to be sent, in case the intimation of Satisfaction to the Registrar is in the specified form and signed by Charge-holder.  If Satisfaction is not Registered with ROC in 30 Days – Application To Central Government For Extension Of Time (Form No. Chg – 8)  Particulars for satisfaction of charge thereof - FORM No. CHG - 4

6. I f any person obtains an order for the appointment of a receiver of Property, subject to a charge of a company IN 30 DAYS Give notice to the company and the Registrar along with a copy of the order or instrument If any person appoints receiver or person under any power contained in any instrument

7.  If any company contravenes –  company - punishable – Rs. 10 Lacs Rs. 1 Lac  Every officer in default shall be punishable – Imprisonment for a term which may extend to 6 months OR with fine Rs.1 Lac Rs. 25,000/- OR With Both

8.  In Following cases - CG may grant relief by Extending TIME limit or Rectifying Omission/Mis-statement after receiving application from Company – Omission to file with the Registrar any charge/ modification Omission to register any charge/Satisfaction of Charge within the time Omission or mis-statement of any particular with respect to any such charge or modification was accidental or due to inadvertence or some other sufficient cause or it is not of a nature to prejudice the position of creditors or shareholders of the company