File Charge Related Documents CHG-1 and CHG-9 without Additional Fees

Due to Resurgence of COVID-19 Pandemic, various Representation have been made requesting the Ministry of Finance for the Relaxation of Timelines related to Filing of CHG-1 and CHG-9 Charge Related Documents for Creation/Modification of Charges. The Ministry has examined taken into consideration the representations & decided to allow Relaxation & Condone the Delay in Filing of Form related to Creation/Modification of Charges. Now the Companies can file CHG-1 and CHG-9 without additional fees. In this article we will shall discuss about Relaxation given by MCA in Compliances of Companies Act, 2013  due to COVID-19 Situation, Amendment made by MCA due to Pandemic Situation in Country.

On 03-05-2020 the Ministry of Corporate Affairs vide Circular No. 07/2021 provided relaxation amid COVID-19 Pandemic by Condone the Delay in Filing of Form CHG-1 and CHG-9 related to Creation/Modification of Charges WITHOUT ADDITIONAL FEES.

Applicability of Circular No. 07/2021

This Relaxation is applicable for ALL COMPANIES OR CHARGE HOLDER.

Forms Covered under Circular No. 07/2021:

The Forms covered under this circular are as follows:

a) CHG-1 -Application for registration of creation, modification of charge (other than those related to debentures)

b) 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

Time Period for which Relaxation provided in CHG-1 And CHG-9 :

This Relaxation is applicable to All Companies or Charge Holders where the Date of Creation/ Modification of Charge is

a) is before 01-04-2021 but timeline for filing such forms had not been expired u/s 77 of Act as on 01-04-2021

OR

b) falls on any date between 01-04-2021 to 31-05-2021 (Both Dates are inclusive)

Applicable Fees for filing CHG-1 and CHG-9:

Case 1: Date of Creation/ Modification of Charge is before 01-04-2021 but timeline for filing such forms had not been expired u/s 77 of Act as on 01-04-2021:

If the Form Filed upto 31-05-2021 :No Additional Fees

If the Form is not filed till 31-05-2021: The first day after 31-03-2021 shall be reckoned as 01-06-2021 for calculating Additional Fees.

Case 2: Date of Creation/ Modification of Charge falls on any date between 01-04-2021 to 31-05-2021 (Both Dates are inclusive)

If the Form Filed upto 31-05-2021 :No Additional Fees

If the Form is not filed till 31-05-2021: The first day after 31-03-2021 shall be reckoned as 01-06-2021 for calculating Additional Fees.

Non Applicability:

The abovementioned Circular is NOT APPLICABLE IF:

a) CHG-1 and CHG-9 has already been filed before the date of issue of Circular (03-05-2021).

b) Timeline for Filing the Form has already expired u/s 77 & 78 prior to 01-04-2021.

c) Timeline of Filing the Form expires at a future date, despite exclusion of the time provided in point (b).

d) It is related to Filing of Form CHG-4 for Satisfaction of Charges.

Also Read:

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Section 194Q Analysis: TDS on Purchase of Goods-Applicability, Threshold, Rate (With 35 FAQ’s)

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CA Shiwali Shukla
Shiwali Shukla is a member of ICAI since 2018 & She has excelled in Chartered Accountancy & follows an innovative & talented approach towards work, She is also an Ex- Employee of Ernst & Young. She is having the Expertise in the filed of Direct Taxation, Indirect Taxation, Company Law matters & Finance. She is also having more than 3 years of Experience in the same field. & more than 3 years if Experience in the field of Direct as well as Indirect Taxation..

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