Section-78: Application for Registration of Charge

Application for Registration of Charge

78. Where a company fails to ¹[register the charge within the period of thirty days referred to in sub-section (1) of section 77], without prejudice to its liability in respect of any offence under this Chapter, the person in whose favor 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 favor 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.

Amendments

1.Substituted by the Companies (Amendment) Act,2017 –  Amendment Effective from 7th May 2018

In section 78,

for the words and figures “register the charge within the period specified in section 77“

the following words shall be substituted, namely :-

“register the charge within the period of thirty days referred to in sub-section (1) of section 77“