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Announcement regarding FAQs on Circular regarding Relaxation of time for filing forms related to creation or modification of charges under the Companies Act, 2013 issued by the Ministry of Corporate Affairs on 03.05.2021-Revised by CL&CGC ICAI
July, 06th 2021

Corporate Laws & Corporate Governance Committee
The Institute of Chartered Accountants of India
5th July, 2021

-----------------------------------------------------------------------------------------------
FREQUENTLY ASKED QUESTIONS

Sub: Frequently Asked Questions on Circular regarding Relaxation of time for
filing forms related to creation or modification of charges under the
Companies Act, 2013 issued by the Ministry of Corporate Affairs on

03.05.2021-Revised
The Ministry of Corporate Affairs vide its General Circular no 07/2021 dated 03rd May, 2021,
has provided relaxation of time for filing forms related to creation or modification of charges
under the Companies Act, 2013.


Under section 77 & 78 of the Companies Act, 2013, the companies or the charge holders are
required to file forms related to creation or modification of charges within the timelines as
provided, i.e. a total of 120 days of the creation or modification of charge. In case, the
company fails to register the charge within the period of thirty days referred to in subsection
(1) of section 77, the charge holder may file the form related to creation or
modification of charges under section 78 of the Act, within the overall timelines for filing of
such form under section 77.


In view of the difficulties being faced by the stakeholders due to resurgence of COVID-19
pandemic, the Ministry of Corporate Affairs has allowed relaxation in respect of filing of
forms relating to creation or modification of charges under the Companies Act, 2013.
The aforesaid circular no 07/2021 has been revised by the Ministry of Corporate Affairs vide
circular no 12/2021 dated 30.06.2021 for providing further extension in the timelines for
filing forms related to creation or modification of charges under the Companies Act, 2013.
Accordingly, the FAQs have been revised based on the circular no 12/2021. Amendments
have been made in blue for the better understanding of readers.

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