Ajay Ltd. had given a loan of ₹10 crore to Binoy Ltd. and created a charge on the assets of the company. But Binoy Ltd. failed to register the charge within the stipulated time. Can Ajay Ltd. register the charge with the

Yes, Ajay Ltd. can register the charge with the Registrar of Companies by making an application for registration of charge by the charge - holder u/s. 78 of the Companies Act, 2013 subject to the other applicable provisions of the Companies Act, 2013 and the rules made thereunder; if any. According to Section 78 of the Companies Act, 2013 where a company fails to register the charge within the period specified, the person in whose favour the charge is created any apply to the Registrar for registration of the charge along with the instrument created for the charge in Form No.CHG-1 or Form No. CHG-9, as the case may be, duly signed along with fee. (Rule 3 of Companies (Registration of Charges) Rules, 2014. The Registrar may, on such application, give notice to the company about such application. The company may either itself register the charge or shows sufficient cause why such charge should not be registered. On failure on the part of the company, the Registrar may allow registration of such charge within fourteen days after giving notice to the company as above-stated. Where registration is effected on application of the person in whose favour the charge is created, that person shall be entitled to recover from the company, the amount of any fee or additional fees paid by him to the Registrar for the purpose of registration of charge.