What is Form CHG-4 in ROC Compliances?

Introduction

The Registrar of Companies (ROC) is a government office that oversees the registration and regulation of companies in India. ROC compliances refer to the legal requirements that companies must follow to remain compliant with the Companies Act, 2013. One such requirement is the filing of Form CHG-4, which is used to notify the ROC of the payment of any charge registered against a company. In this article, we will discuss Form CHG in ROC compliances in detail.

What is Form CHG-4?

Form CHG-4 is a document that companies must file with the Registrar of Companies (ROC) to notify them of the payment or satisfaction of any charge registered against the company. A charge is a security interest in the company’s assets that is created to secure a loan or other obligation. The charge is registered with the ROC, and the company must notify the ROC when the charge is paid off or satisfied in full.

When is Form CHG-4 required to be filed?

According to the Companies Act, 2013, every company must file Form CHG-4 with the ROC compliances within 30 days of the payment or satisfaction of any charge registered against the company. Failure to file the form within the prescribed time can result in penalties and fines.

What are the details required to file Form CHG-4?

The following details are required to file Form CHG-4:

• Name of the company
• CIN (Corporate Identification Number) of the company
• Date of charge creation
• Date of satisfaction of charge
• Details of the charge, including the name of the charge holder, the type of charge, and the amount of the charge
• Details of the property or assets charged
• Details of the person who paid or satisfied the charge

How to file Form CHG-4?

Form CHG-4 can be filed online through the Ministry of Corporate Affairs (MCA) portal. The form must be digitally signed by an authorized signatory of the company. Once the form is filed, a receipt will be generated, which can be downloaded from the MCA portal.

Consequences of Non-Compliance with the Form CHG 4

Non-compliance with the filing requirements for Form CHG can have severe repercussions for companies. Failure to file within the stipulated time may result in penalties imposed by the Registrar of Companies (ROC) , which can accumulate over time. Additionally, non-compliance can affect the credibility and reputation of the company, making it challenging to secure credit or attract potential investors.

Conclusion

Form CHG-4 is an important document that companies must file with the ROC to remain compliant with the Companies Act, 2013. It is used to notify the ROC of the payment or satisfaction of any charge registered against the company. Companies must file the form within 30 days of the payment or satisfaction of the charge. Failure to file the form within the prescribed time can result in penalties and fines. Form CHG-4 can be filed online through the MCA portal, and it requires various details to be filled in, including the name of the company, CIN, details of the charge, and details of the person who paid or satisfied the charge.