SECTION-78 (Application for Registration of Charge) under CHAPTER-VI (Registration of Charges) of the Companies Act, 2013
Where a company fails to register the charge within the period specified in section 77, without prejudice to its liability in respect of any offence under this Chapter, the person in whose favour the charge is created may apply to the Registrar for registration of the charge along with the instrument created for the charge, within such time and in such form and manner as may be prescribed and the Registrar may, on such application, within a period of fourteen days after giving notice to the company, unless the company itself registers the charge or shows sufficient cause why such charge should not be registered, allow such registration on payment of such fees, as may be prescribed:
Provided that where registration is effected on application of the person in whose favour the charge is created, that person shall be entitled to recover from the company the amount of any fees or additional fees paid by him to the Registrar for the purpose of registration of charge.
Extra Notes for Readers
(1) The Companies Act, 2013 received the assent of the President on the 29th August, 2013 (Published in the Gazette of India, Extraordinary, Part II - Section 1 by Ministry of Law and Justice, Legislative Department on 30th August, 2013)
(2) Section 78 of the Companies Act 2013 was notified by MCA Notification S.O. 902(E) dated 26th March 2014 (w.e.f. 1st April 2014)
(3) Further, refer the following rule(s) of the Companies (Registration of Charges) Rules, 2014
- Rule 3 - Registration of creation or modification of charge [Form No.CHG-1] [Form No.CHG-9]
[Note: please also check further amendments to the Companies (Registration of Charges) Rules, 2014]
This page was last updated on 12th March, 2017.