Checklist on Provision of Registration & Satisfaction of Charges, Companies Act,2013

SECTIONS COVERED: 77 TO 87
Applicability : Every company
Charge type : Any Charge on any property whether tangible or intangible, located in india or outside india
YES NO N/A
Check whether company has created charge on any property or assets during the year OR in past years which is not
1 satisfied yet
If YES, Check whether such charge is registered with ROC
Check whether such charge was registered within 30 days of creation with normal fee or within 300 days with additional
2 fee.
If NOT registered in 300 days, Central govt. permission will be required for extension of time subject to some conditions u/s 87

3 Check whether any charge created previously is modified (Change in terms & Conditions) during the year.

Check Certificate of Registration (Form CHG-2 or Form CHG-3) to Verify Point 2 & 3, For original registration (Point 2),
4 verfiy Form No. CHG-2 & For modification of charge (Point 3), verify Form No. CHG-3.

Check, whether any charge is satisfied or paid during the year, if yes, whether initimation of which given to ROC within
5 30 days of it. (Release of Charge)

IF YES, Verify Memoradum of Satisfaction, i.e Form CHG-5

Verify Register of Charges (Form CHG-7), indicating all particulars regarding registration, modification and satisfaction of
6 charge.

Penalties & Prosecution:

Contravention to any provision from Section 77 to 87 shall be punisable with :
For Company : One lakh to Ten lakh
For Officer in default : Imprisonment upto 6 months or fine from 25,000 to 1,00,000 or with both
Section No. Particulars Form No.
77 Duty to register Charges,etc.
78 Application for registration of charge CHG-1 (Application for Reg. of Charges)
CHG-2 (Certificate of registraton), CHG-3 (Certificate of registration
79 Section 77 applies in certain matters in case of modification)
80 Date of notice of charge
81 Register of Charges to be kept by Registrar
82 Company to report satisfaction of charge CHG-4 (Application for Satisfaction of Charge)
Power of Registrar to make entries of Satisfaction CHG-5 (Memorandum of Satisfaction)
83
and release in absence of intimation from company.

84 Intimation of appointment of receiver or manager. CHG-6 (Notice for appointment or cessation of receiver or manager)
85 Company's register of Charges CHG-7 (Register of Charges)
86 Punishment for contravention
87 Rectification by Central Govt. in register of charges CHG-8 (Application to Govt. for extension of time to register)
CHG-9 (Application for registration or modification of charge for
debentures & rectification of the same)