The company registred under companies Act 2013 creating a charge on “its own property or assets or any of its undertakings, No matter the asset may be tangible or intangible, the asset may be situated in india or outside the india, “ to register the particulars of the such charge created and signed by the company and the charge holder together with instruments created for the charge, in CHG-1 (for all types except Debentures) Form CHG-9 (for Debentures) with in a period of 30(thirty days) from the date of creation of such charge or Modification.
The registrar may on application by the company allow such registration beyond 30 days of registration but within 60days of creation of such registration on payment of prescribed Additional fee.
After registration of charge the registrar shall issue a certificate of registration of such charge in Form CHG-2 and incase of any modification of charge certificate will be issued in Form CHG-3
If the company fails in registering the charge created, the charge holder can register the charge with the Registrar and he can recover all fees, additional fees and advalorem fees paid by him to the registrar for registration of charge.
The certificate issued by the Registrar shall be the conclusive evidence.
The charges which are not registered with the registrar are not considered as secured creditors and shall not be taken in to account by the liquidator
the instrument or deed of charge, whether wholly or partly, to the property situated in India, the copy shall be verified by a certificate issued under the hand of any director or company secretary of the company creating charge or an authorised officer representing the charge holder.
Every company which is registered their charges with the registrar shall also inform the satisfaction of the charges if Form CHG - 4 to the registrar within 30 days of satisfaction of their charges.