The Ministry of Corporate Affairs has issued the General Circular No. 07/2021. In the said circular, the said relaxation has been given with respect to the Forms CHG – 1 and Form CHG – 9.
The relaxation is applicable with respect to the Company or the Charge holder, where the date of creation / modification of charge:
a. is before 01-04-2021 but the timeline for filing such form had not expired under section 77 of the Act as on 01-04-2021 or
b. falls on any date between 01-04-2021 and 31-05-2021.
Relaxation of time
i. In case of a form specified under clause (a) above, the period beginning from 01-04-2021 to 31-05-2021 shall not be reckoned for the purpose of counting the number of days under section 77 or section 78 of the Act i.e. for filing the form, the date after 31-03-2021 shall be considered from 01-06-2021 onwards.
ii. In regard to the clause (b) above, the above period beginning from the date of creation / modification in charge to 31-05-2021 shall not be reckoned for the purpose of counting the number of days under section 77 or section 78 of the Companies Act, which means the number of days shall be calculated from 01-06-2021 onwards.
Applicable fee
In respect to clause i. above, if the form has been filed by 31-05-2021, then the fee shall be charged as per the fee applicable till 31-03-2021. If the form has been filed after 31-05-2021, then the number of days from 01-06-2021 onwards plus fees applicable as on 31-03-2021 shall be applicable.
Non – Applicability of the Circular
- The Form CHG 1 and CHG 9 has been filed before the issuance of this circular
- The timeline for filing the form has already been expired under section 77 or 78 before 01-04-2021
- Filing of Form CHG 4 for satisfaction of charges
- The timeline for filing the form expires at a future date.
To view and download the General Circular, click here GeneralCircularNo7_03052021
