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Introduction to ROC CHG-8
Roc CHG-8 is Condonation Of Delay Under Companies Act 2013.
As per section 77, if any company fails to register charges or where the instrument creating or modifying a charge is not filed within a period of three hundred days from the date of its creation (including the acquisition of a property subject to a charge) or modification.
According to section 86, if any company fails to register satisfaction of charges after its full payment or If the satisfaction of the charge is not filed within thirty days from the date on which such payment of satisfaction, the Registrar shall not register the same unless the delay is condoned by the Central Government.
Cases when Condonation of Delay Arises:
There are two situations when condonation of delay arises:
If the company fails to register charges with the Registrar of Companies (ROC) in the event of creating or modifying charges within a period of 300 days from the date of creation or modification.
For creation and modification of charges, one should file the CHG-1 form after the expiry of 30 days but not beyond 300 days from the date of creation or modification of charge (In this case condonation of delay would arise only after 300 days).
If the company fails to register charges with the Registrar of Companies (ROC) in the event of Satisfaction of the full amount of the charge within 30 days from the date of full payment or satisfaction of charge.
For the satisfaction of charges, one should file the CHG-4 form after the expiry of 30 days with an additional fee. (In this case, there are no 30 days and 300 days criteria,) once 30 days are over from the date of satisfaction or full payment of the amount, then the Company has to file CHG-8 for Condonation of Delay with Central Government (Regional Director).
Filing of CHG-Condonation Form
Step 1:- Conduct a Board Meeting a pass a resolution to make an application with the concerned Regional Director.
Step 2:- Fill CHG-8 form- CHG-8 is a physical form that has to be filled by physically.
Step 3:- Prepare a petition which has to be filed with Regional Director (RD)
Step 4:- Prepare an affidavit verifying petition by any one of the directors of the company (It has to be taken on E-stamp)
Step 5:- Prepare a memorandum of appearance to represent the company before RD (Authorize PCS/PCA/Advocate or Directors).