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Meaning of Charge as per companies Act 2013
As per section 2 (16) charge means
The company needs to borrow funds for the requirement of the Company Registration, for which the Board of Directors authorizes to create a charge on the assets of the company to provide security for repayment. Following is the procedure of Registration of Penalty for Charge by a company
If any company fails to file a Form with the Registrar or contravene any provision of this Chapter, the company shall be punishable with a fine. The penalty charge non-filing shall not be less than 1 Lakhs rupees but it may extend to 10 Lakhs rupees. The officer in default for the company shall be punishable with imprisonment up to 6 months or with fine which shall not be less than 25 thousand rupees but which may extend to 1 lakh rupees or both.
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