WHAT CHARGES DO YOU REGISTER?
All mortgages and charges created by the company against its assets or otherwise for taking the loan or financial assistance.
TYPES OF MORTGAGES & CHARGES
- A charge on any immovable property of a company;
- A charge, including a pledge or hypothecation, on any movable property of a company
- A floating charge on the undertaking or any property of a company, including stock-in-trade;
- A charge on any other property or right of a company
- Bank Managers logs in->Fill up Creation of charge form->upload loan agreement->Submit->Charge Certificate will be emailed.
- TIME LIMIT FOR SUBMISSION?
The charges should be filed within 30 days of signing such documents or at an extended time as the Registrar may allow.
- WHO CAN FILE MORTAGES AND CHARGES?
The mortgages and charges shall be filed by the creditor.
- Bank Managers logs in->Fill up Modification of Charge form->upload loan agreement->Submit->Certificate of Modification of Charge will be emailed.
- Bank Managers logs in->Fill up Satisfaction of charge form->upload loan agreement/loan clearance letter from bank->Submit->Certificate of Satisfaction of Charge will be emailed.
- Section 276 - “Mortgages and charge created on the property and assets of the company shall be void against any creditor, including a liquidator, unless the particulars of the same are registered in the manner provided in section 274 - 275.”
- Section 277 – “Nothing in section 276 shall prejudice any contract or obligation for the repayment of the money secured by the charge and When a charge becomes void under this section, the money secured thereby shall immediately become payable.”