Category Archives: Chapter VI – CA2013

REGISTRATION OF CHARGES

Companies Act 2013 Amended by Insolvency and Bankruptcy Code 2016


A notification issued by Ministry of Corporate Affairs notified section 255 of the Insolvency and Bankruptcy Code, 2016. By virtue of notification of Section 255 of Insolvency and Bankruptcy Code, 2016; the Companies Act, 2013, stands amended in accordance with Schedule XI of the IBC2016 with effect from 15th November 2016. We shall have a short discussion here.

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Notification of Sections Relevant for NCLT


Yesterday late evening, I posted here about press release issued by Ministry of Corporate Affairs. Soon thereafter, two files uploaded on Official Gazette website with two notifications in each. In earlier post here today, we discussed establishment and jurisdiction of various NCLT benches.

In this post, we will have a bird’s eye view on Sections notified on 1st June 2016 related to NCLT.

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YEAR’S SECOND AMENDMENT IN REGISTRATION OFFICES AND FEES RULES


The Ministry of Corporate Affairs placed here on its website a draft of the Companies (Registration Offices and Fees) Second Amendment Rules, 2015. These amendment Rules will come into force from the date of its publication in Official Gazette.

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AMENDMENT IN CHARGES RULES


The Ministry of Corporate Affairs placed here on its website a draft of the Companies (Registration of Charges) Amendment Rules, 2015. These amendment Rules will come into force from the date of its publication in Official Gazette.

These amendment rules proposed to amend Rule 3(4)(a) of the Companies (Registration of Charges) Rules, 2014. This amendment in the Rules is in alignment with the Companies (Amendment) Act, 2015 relevant part of which came into effect from 29th May 2015. Purpose of these amendments in the Rules is to provide law in event of company exercise its option not to have a common seal. After this amendment the Rule 3(4) shall read as under:

A copy of every instrument evidencing any creation or modification of charge and required to be filed with the Registrar in pursuance of Section 77, 78 or 79 shall be verified as follows-

(a) where the instrument or deed relates solely to the property situated outside India, the copy shall be verified by a certificate issued either under the seal of the company under the seal, if any, of the company, or under the hand of any director or company secretary of the company or an authorised officer of the charge holder or under the hand of some person other than the company who is interested in the mortgage or charge;

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REGISTRATION OF CHARGES RULES


In an earlier post we have discussed Chapter VI of the Companies Act 2014, which deals with registration of charges. The Companies (Registration of Charges) Rules 2014 discusses procedural aspect.

For registration of charge as provided in subsection (1) of Section 77, Section 78 and Section 79, the particulars of the charge together with a copy of the instrument, if any, creating or modifying the charge in Form CHG – 1 (for other than Debentures) or Form CHG – 9 (for debentures), as the case may be, duly signed by the company and the charge holder and filed with the Registrar within a period of thirty days of the date of creation or modification of charge along with the fee. [Rule 3(1) of the Companies (Registration of Charges) Rules 2014]

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CHG – 9


Application for registration of creation or modification of charge for debentures or rectification of particulars filed in respect of creation or modification of charge for debentures
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CHG – 6


Notice of appointment or cessation of receiver or manager
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