Unit
it 06i :i.pt
Other Miscellaneous
ssilst
Provisions
is s l
lip
Registration ofCharges
Achargerefers to a securityfora loan under which certainproperty is charged itis a
right on theassets orproperty createdby a company borrower infavourofthebanks
financial institutions lender forproviding internalfinancing
Asperthe companies Act 2013 a chargeis an interest or lien created on theassets or the
propertyof a companyandits undertakings or both as a security includingmortgage
variousfeaturesofchargesare
canbe onfinedor current asset
can be on present orfutureassets
can be a finedorfloatingcharge
security ondebt
forlenders in case companydefaults inpayment
it mustbe registeredwiththeROC within30daysofcreation ifnotitisvoidonpart
the liquidator creditor
creation
ofcharges
A charge is created when a company takesup a loanfrom a bank orfinancial
institution and provides a security on the assets or propertyof a business tothe
lenders in case it defaults in payments This charge couldeither be
finedorfloating
Registration withROC within30daysofcreationofcharge
Forms cha r other cha9 debentures
information to beprovided Iname details c harge date creation boardresolution chargenol
of of
Extension
ofdate 300days late
fee
Obtaining certificate ofRegistrationof charges evidence
ofregistration cha 2
Registerofcharges withROC chargescreated modified satisfiedrecord
Failure to register voidon creditors liquidatorspart
company's record thecompany isalso required tomaintain a recordofchargesatregister
it 06i :i.pt
Other Miscellaneous
ssilst
Provisions
is s l
lip
Registration ofCharges
Achargerefers to a securityfora loan under which certainproperty is charged itis a
right on theassets orproperty createdby a company borrower infavourofthebanks
financial institutions lender forproviding internalfinancing
Asperthe companies Act 2013 a chargeis an interest or lien created on theassets or the
propertyof a companyandits undertakings or both as a security includingmortgage
variousfeaturesofchargesare
canbe onfinedor current asset
can be on present orfutureassets
can be a finedorfloatingcharge
security ondebt
forlenders in case companydefaults inpayment
it mustbe registeredwiththeROC within30daysofcreation ifnotitisvoidonpart
the liquidator creditor
creation
ofcharges
A charge is created when a company takesup a loanfrom a bank orfinancial
institution and provides a security on the assets or propertyof a business tothe
lenders in case it defaults in payments This charge couldeither be
finedorfloating
Registration withROC within30daysofcreationofcharge
Forms cha r other cha9 debentures
information to beprovided Iname details c harge date creation boardresolution chargenol
of of
Extension
ofdate 300days late
fee
Obtaining certificate ofRegistrationof charges evidence
ofregistration cha 2
Registerofcharges withROC chargescreated modified satisfiedrecord
Failure to register voidon creditors liquidatorspart
company's record thecompany isalso required tomaintain a recordofchargesatregister
