MANU/DCAF/0077/2020

Ministry : Ministry of Corporate Affairs

General Circular No. : 23/2020

Date : 17.06.2020

Notification/ Circulars Referred : General Circular No. 12/2020, dated 30.03.2020 MANU/DCAF/0054/2020

Citing Reference:
General Circular No. 12/2020, dated 30.03.2020 MANU/DCAF/0054/2020  Referred

To

All Regional Directors,
All Registrar of Companies,
All Stakeholders.

Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013

Sir/Madam,

The companies are required to file forms related to creation or modification of charges within the timelines provided in section 77 of the Companies Act, 2013 (Act), i.e. a total of 120 days of the creation or modification of charge. In case, the company fails to register the charge within the period of thirty days referred to in sub-section (1) of section 77, the charge holder may file the form related to creation or modification of charges under section 78 of the Act, within the overall timelines for filing of such form under section 77.

2. On account of the pandemic caused by the COVID-19, representations have been received in this Ministry, requesting that the timelines related to filing of certain charge related forms may be suitably relaxed so as to provide a window of compliance for the registration of charges. Under the Companies Fresh Start Scheme, 2020 as laid out in the General Circular No. 12/2020, dated 30.03.2020, the benefit of waiver of additional fees was not extended to the charge related documents. Therefore, it has been suggested that some dispensation may be provided for filing of charge related documents as well.

3. In view of the above, the Central Government in exercise of its powers under section 460 read with section 403 of the Act and the Companies (Registration Offices and Fees) Rules, 2014 (Fees Rules) has decided to introduce a Scheme, namely "Scheme for relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013" for the purpose of condoning the delay in filing certain forms related to creation/modification of charges.

4. The details of the scheme are as under:-