Tag Archives: charge

MCA scheme for relaxation of charges CHG-1 CHG-9 From 01-03-2020 to 30-09-2020

Questions Answers
 If Charge create or modify time limit of 120 days Expire on or before 29/02/2020 then Can we took benefit of these circular? No,
Example:ABC ltd charge create or modify on or before 01/11/2019 then such company not taken benefit of these circular.
Can these circular benefits take when on 29/02/2020, charge creation or modification 119 days count or expire? Yes
No days count from 01/03/2020 to 30/09/2020 on charge creation or modification? Yes
Can normal fees Charge when charge create or modify between 01/03/2020 to 30/09/2020 Yes
Can the same amount of fees charge until 30/09/2020 that is fee charge on 29/02/2020 when 120 days not expire on 29/02/2020? Yes, same fee charge that is charge on 29/02/2020
These circular applies on which forms? *CHG-1
Can these circular Applies on the satisfaction of charge in form chg-4 No, these circular not apply on the satisfaction of charge
Can circular apply on charge create or modify on debentures? Yes Applies
How many days count on a charge if charge create or modify on 01/03/2020 No single day count until 30/09/2020
How many days count on a charge if charge create or modify on 29/02/2020 1Day count until 30/09/2020
Can any  fees charge for taken these circular benefit No, Any amount of fees no charge
Can any form is required to file for Taken these circular benefit? No, these circular automatic applies on All companies no additional form is required to charge.
What is the effective date of these circular This circular was immediate effective from 17/06/2020.
What is the cutoff date of these circular Cut off date was 30/09/2020
What charge creation or modification cover on these circular? All charges cover whose 120 days not expire on 29/02/2020
1. From 01/03/2020 to 30/09/2020 Days not count in Charge Creation or Modification time limit.
2.The charge created before 01/03/2020 must have under time under 120 days as on 29/02/2020, and fee that is charged on 29/02/2020 same fees charge from 01/03/2020 until 30/09/2020.
3.charge created between 01/03/2020 to 30/09/2020 normal fees charge until 30/09/2020.
4.Applies only on form CHG-1 (for creation or modification of charge other than debentures)And Form CHG-9 (for creation or modification of charge on debentures)
5.satisfaction of charge (CHG-4) excluded from these circular.
6.When on 29/02/2020 charge creation or modification time expires then these circular not applicable