Condonation of Hold-up for Charges under Companies Act,2013 Examine Condonation of Hold-up for Registration of Charges, This article has to do with the treatment to be followed when the assessee has actually postponed in filing and signing up the charges with the appropriate authority and now he wants the extension of time duration. The complete treatment is discussed here, the documents to be filed, what are the extra costs payable, period for filing the exact same, when the question for condonation of delay would develop, etc all have been elaborated here.
Condonation of Delay for Charges under Companies Act, 2013
When the concern for such condonation occurs?
The issue for condonation of delay develops just in 2 circumstances:
- When the business has failed to register the charges with the Registrar of Companies within 300 days from the development or the adjustment of such charges. If the company fails to file within such time duration likewise, then there would be not alternative available with the company but to file the condonation of delay with the Central Federal government. The provision says that the companies require to submit kind CHG-4 within 30 days from the date of complete satisfaction of the charge, stopping working to which the company needs to apply for the condonation of delay.
Process for Condonation of Delay:
- Whenever the company fails to submit the type within specified period, then also he needs to submit the form with the extra fees, where in the form, it would be specifically written that there is hold-up in filing and condonatiion is required.
- The Board of Directors than require to assemble a board meeting and offer the authorization for submitting the petition together with appropriate documents as asked by the authority.
- Petition requires to be filed with the Regional Directory site in form RD-2 with the following files:.
- Type CHG-1/ 4
- True Copy of Board Resolution authorising the condonation
- MOA & AOA
- Copy of the Challan for CHG-1/ 4
- Affidavit for the petition
- Authorising letter for appearing prior to the Regional Director.
- Then company needs to file such petition in kind GNL-2 with the documents mentioned above as an attachment.
- After filing the very same, Regional Director will call the authorised individual of the company for hearing.
- Once the Regional Director approves the condonation, then the company needs to file such order in INC-28 within 30 days of such order.
Needs To Check Out–
- List for Business Incorporation in India– Latest
- List of All Exemptions to a Private Restricted Company
- Business Governance– A Part of Business Method
- MCA INC 29 Single E-Form For Business Incorporation
Costs Payable:
1. Normal Charges:
Share Capital Costs Payable (In Rs) Less than 1 Lakh 200 1 Lakh to 4 Lakh 300 5 Lakh to less than 25 Lakh 400 25 Lakh to less than 1 Crore 500 1 Crore or more 600 2. Additional Charges:
Period of Delay Costs Payable Upto 30 days 2 times of Regular Charges >30 days upto 60 days 4 times of Regular Costs >60 days upto 90 days 6 times of Regular Fees >90 days upto 180 days 10 times of Normal Charges >180 days 12 times of Normal Fees
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