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CS Executive · Company Law and Practice · Charges

Kaveri Plastics Ltd created a charge on its plant on 10 June (after the Companies (Amendment) Act, 2019 commenced) and missed the thirty-day period. On application and payment of additional fees, up to what period from creation may the Registrar allow registration under the first proviso?

Sixty days from creation. For charges created after the 2019 Amendment commenced, the Registrar may, on the company's application and payment of additional fees, allow registration within sixty days of creation. The three hundred day window applied only to charges created before that amendment.

  1. ASixty daysCorrect
  2. BNinety days
  3. COne hundred and twenty days
  4. DThree hundred days

Explanation

For charges created on or after the commencement of the 2019 Amendment Act, the first proviso to Section 77(1) allows the Registrar to permit registration within sixty days of creation on payment of additional fees. The three hundred day period applied only to older charges.

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