CS Executive · Company Law and Practice · Charges
Sundaram Textiles Ltd, an Indian company, executes a deed of hypothecation on its stock in favour of a bank on 1 March. As per Section 77, within how many days of creation must the particulars of the charge ordinarily be filed with the Registrar without any additional fee?
The ordinary period is thirty days from creation of the charge. Section 77(1) places the duty on the company to register particulars with the Registrar within this time. Longer periods are possible only by application to the Registrar on payment of additional fees.
- AThirty daysCorrect
- BSixty days
- CNinety days
- DThree hundred days
Explanation
Section 77(1) requires the company to register the particulars of a charge with the Registrar within thirty days of its creation. Sixty days is available only on application with additional fees, so it is not the ordinary period.
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