Guide to Charge Management under the Companies Act
Introduction For a Company Secretary, managing the creation, registration, modification, and satisfaction of charges is a critical compliance responsibility. The Companies Act provides a comprehensive framework governing these aspects, and failure to comply with the statutory requirements can lead to severe penalties and legal consequences. This guide focuses on the practical aspects of charge management from a Company Secretary's perspective, with special emphasis on procedural requirements, applicable forms, MCA V3 portal requirements, and compliance strategies. Charges Requiring Registration As a Company Secretary, you must ensure that the following types of charges are registered with the Registrar of Companies (ROC) as per Section 77 of the Companies Act, 2013: Charges on Immovable Property: Including mortgages on land, buildings, and other fixed assets Floating Charges: On the whole undertaking or any property of the company, including stock-in-trade Charges on Book Debts: Security […]
