Duty to registration charges
It is the service of every company establishing a charge within or outside India. The property or assets any of it’s venture. Whether massive or otherwise placed in or outside India. The charge to register of the particulars signed by the company. The charge holder together with the instruments. If anything creating such form in such charge as registration. On such amount of such payment as may be recommended.The registrar within thirty days of its creation.
The registrar may on an application by the company. To allow such registration to be made within a duration of three hundred days. Such creation on payment of such additional fees as may be recommended.
If incorporation is not made within a duration of three hundred days. Such formation the company shall pursue is expansion of time in accordance under the section (87).
Where that any consequent incorporation of charge shall not discrimination. If any right obtained in tribute of any ownership. Before the charge is absolutely registered.
Under the sub-section(1) a charge is registered with the registrar. A license of such charge of registration is issued by him. In such manner and in such form as may be recommended. The company case may be to the person in whose favor the charge is created.
Notwithstanding everything involved in any other law for the time being in force. Where no charge is created by the company. It shall be taken into account by the receiver or any mortgagee. Unless it is duly registered under sub-section(1). Such charge a certificate of registration is given under the sub-section(1) by the registrar.
In sub-section(3) nobody shall be discrimination of any contract. The liability for the repayment of the money ensured by a company charge.
Application for registration of charge
Where a company declines to register the charge. The term specified within section (77 ) without discrimination to its liability. In respect of any offense. The person in whose gift the charge is established. It may apply for registration of the charge to the registrar . The instrument created for the charge. Such time in such manner and form as may be recommended. The registrar may on such application. It has a duration of fourteen days after giving notice to the company. Unless the company itself registers shows sufficient cause or the charge .Why that charge should not be registered. To allow such registration on payment of such fees. It may be recommended.
Where such registration is effected on application of the persons. In that support the charge is established. In that person shall be granted to reclaim from the registration company in Coimbatore. The amount of any payment or other prices paid by him to the registrar. It is the purpose of registration of charge.