What is Application for registration of charge What is the meaning of Section 77 to apply in certain matters What is Date of notice of charge Section 78, 79 and 80 of Indian Companies Act 2013

Application for registration of charge, Section 77 to apply in certain matters and Date of notice of charge are defined under Section 78, 79 and 80 of Indian Companies Act 2013. Provisions under these sections are:

 

Section 78 of Indian Companies Act 2013 "Application for registration of charge"

Where a company fails to register the charge within the period specified in section 77, without prejudice to its liability in respect of any offence under this Chapter, the person in whose favour the charge is created may apply to the Registrar for registration of the charge along with the instrument created for the charge, within such time and in such form and manner as may be prescribed and the Registrar may, on such application, within a period of fourteen days after giving notice to the company, unless the company itself registers the charge or shows sufficient cause why such charge should not be registered, allow such registration on payment of such fees, as may be prescribed:


 

Provided that where registration is effected on application of the person in whose favour the charge is created, that person shall be entitled to recover from the company the amount of any fees or additional fees paid by him to the Registrar for the purpose of registration of charge.

 

Section 79 of Indian Companies Act 2013 "Section 77 to apply in certain matters"

The provisions of section 77 relating to registration of charges shall, so far as may be, apply to -

(a) a company acquiring any property subject to a charge within the meaning of that section; or

(b) any modification in the terms or conditions or the extent or operation of any charge registered under that section.

 

Section 80 of Indian Companies Act 2013 "Date of notice of charge"

Where any charge on any property or assets of a company or any of its undertakings is registered under section 77, any person acquiring such property, assets, undertakings or part thereof or any share or interest therein shall be deemed to have notice of the charge from the date of such registration.

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