Understanding of MCA Circular: Relaxation for filing Form CHG-1/CHG-9 for Creation/Modification of Charge under Section 77 of Companies Act, 2013.

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Understanding of MCA Circular: 

Relaxation for filing Form CHG-1/CHG-9 for Creation/Modification of Charge under Section 77 of Companies Act, 2013.

 

 

Abut By Author

 

CA Jayprakash Pandey

Practicing Chartered Accountant


 

Ministry of Corporate Affairs (MCA) issued a circular providing Relaxation for filing Form CHG-1/CHG-9 for Creation/Modification of Charge under Section 77 of Companies Act, 2013.

Understanding of MCA Circular:

Applicability Relaxation of time Fees
Date of Creation/Modification of Charge is before 01.04.2021, but the timeline for filing Form for Creation/Modification of Charge is unexpired as on 01.04.2021. In this case, the period beginning from 01.04.2021 and ending on 31.05.2021 shall not be reckoned for the purpose of counting the number of days. In case the Form is not filed within this period, then first day after 31.03.2021 shall be reckoned as 01.06.2021. Form is filed on or before 31.03.2021: Fees payable as on 31.03.2021.
If filed thereafter: Applicable Fees shall be charged after adding number of days beginning from 01.06.2021 & ending on the date of filing plus the time period lapsed from date of creation till 31.03.2021
Date of Creation/Modification of Charge falls on any day between 01.04.2021 to 31.05.2021 (both dates inclusive). In this case, the period beginning from date of Creation/Modification of Charge to 31.05.2021 shall not be recokend for the purpose of counting the number of days. In case the Form is not filed within this period then the first day after the date of Creation/Modification shall be reckoned as 01.06.2021. Form is filed before 31.05.2021: Normal Fees.
If filed thereafter: The first day after Creation/ Modification shall be reckoned as 01.06.2021 and the number of days till date of filing of form shall be counted accordingly for the purpose of Fees.

The Circular is not applicable in case of following:

  1. Above Form had already filed before issue of this Circular
  2. The due date to file Form is expired as on 01.04.2021
  3. Form CHG-4 (Satisfaction of Charge)

 

Understanding of MCA Circular: Relaxation for filing Form CHG-1/CHG-9 for Creation/Modification of Charge under Section 77 of Companies Act, 2013.

 

 

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