Form CHG-8 - Condonation of Delay

The provisions of the Companies Act states that if a company does not register satisfaction of charges after its full payment or if the satisfaction of the charge is not filed within thirty days from the date of payment of satisfaction, the Registrar would not register the same unless the delay is condoned by the Central Government.

Latest form to be used - Update on 30th April 2019

As per the latest notification from MCA, the form is revised and can be accessed here. Pages 9 to 11

Registration Charges

Section 77 requires a company to create a charge to register the particulars of charge with ROC. It further states that the company creating a charge within or outside India, on its property or assets or any kind of its undertakings, whether tangible or otherwise and situated in or outside India has to register the particulars of the charge with the MCA.

Circumstances of Condonation

Condonation of delay arises in the following situations:

A company failing to register charges with Registrar of Companies after creating or modifying charges within 300 days from the date of creation or modification.

For creation and modification of charges, an individual has to file the CHG-1 form after the expiry of thirty days but not more than 300 days from the date of creation or modification of charge. Any company may file Form CHG-1 form with an additional fee from 30 days to 300 days. On the completion of 300 days, the Company has to file CHG-8 for Condonation of Delay with the Central Government and not with the Registrar as is the case with the former.

A company failing to register charges with the ROC for the Satisfaction of full amount of the charge within 30 days from the date of full payment or satisfaction charge.

For satisfaction of charges, an individual has to file CHG-4 form after expiration of 30 days with an additional fee. On completion of thirty days from the date of satisfaction or full payment of the amount, the Company has to file CHG-8 for Condonation of Delay with the Central Government.

Procedure for Filing of CHG-8

Step 1: The Board conducts a meeting and passes a resolution to make an application with the concerned Regional Director. Step 2: CHG-8 form is obtained and filed physically. Step 3: A petition is prepared and filed with the Regional Director (RD). Step 4: An affidavit verifying petition is prepared by any of the directors of the company. Step 5: A Memorandum of Appearance is prepared to represent the company before the Regional Director.

Forms to be filed with ROC

The below-given forms must be filed with ROC, along with the respective documents.

Form GNL-2 -Supported with Form CHG-8, RD petition, affidavit, Memorandum of Appearance, CHG-4 with payment challan.
Form RD-2 - Supported with Form CHG-8, RD petition, affidavit, Memorandum of Appearance, CHG-4 with payment challan and GNL2 with payment challan.
Form INC-28 - Supported with the filing of RD order in INC-28 form within 30 days.

Company Registration

OPC Registration