Amended and updated notes on section 85 of Companies Act 2013. Detail discussion on provisions and rules related to company’s register of charges.
Chapter VI (Sections 77–87) of the Companies Act, 2013 (CA 2013) deals with the provisions related to registration of charges. Section 85 of CA 2013 provides for company’s register of charges.
Recently, we have discussed in detail section 84 (Intimation of appointment of receiver or manager) of CA 2013. Today, we learn the provisions of section 85 of Companies Act 2013 read with the Companies (Registration of Charges) Rules, 2014.
Section 85 of the Companies Act, 2013 has been notified by the Ministry of Corporate Affairs (MCA) vide Notification No. S.O. 902(E) issued dated 27.03.2014. This notification shall come into force from 1st April, 2014 i.e. the commencement date of section 85 is 1-04-2014.
| Name of Act | The Companies Act 2013 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Ministry of Corporate Affairs (MCA) |
| Number of Chapters | 29 |
| Number of Sections | 484 (470-43+57) |
| Number of Schedules | 7 |
| You are reading: | |
| Chapter No. | VI |
| Chapter Name | Registration of Charges |
| Section No. | 85 |
| Section Name | Company’s register of charges |
| Monthly Updated Edition | Company Law PDF |
Section 85 of Companies Act 2013: Company’s register of charges
Section 85 shall come into force on 1st April, 2014 vide Notification No. S.O. 902(E) issued dated 27.03.2014.
(1) Every company shall keep at its registered office a register of charges in such form and in such manner as may be prescribed, which shall include therein all charges and floating charges affecting any property or assets of the company or any of its undertakings, indicating in each case such particulars as may be prescribed:
Provided that a copy of the instrument creating the charge shall also be kept at the registered office of the company along with the register of charges.
(2) The register of charges and instrument of charges, kept under sub-section (1) shall be open for inspection during business hours—
- (a) by any member or creditor without any payment of fees; or
- (b) by any other person on payment of such fees as may be prescribed,
subject to such reasonable restrictions as the company may, by its articles, impose.