08/09/2022, 13:03 Corporate insolvency: MCA empowers resolution professionals to sign and file e-charge forms | ELPLAW

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Corporate insolvency: MCA empowers resolution professionals to sign and file e-charge forms

Corporate insolvency: MCA empowers resolution

professionals to sign and file e-charge forms
Sep 5, 2022

Author(s) :
Dinesh Pednekar (https://elplaw.in/people/dinesh-pednekar)

The Corporate Affairs Ministry (MCA) has now empowered interim resolution professionals (IRPs),
resolution professionals (RPs) and liquidators to file necessary e-forms for creation, alteration or
satisfaction of charges during the corporate insolvency resolution process (CIRP). This move removes
ambiguity on powers of RPs in filing relevant forms post initiation of corporate insolvency.

Against this backdrop,  Dinesh Pednekar, Partner at  Economic Laws Practice (ELP)  has been quoted
by BusinessLine in their article titled ‘MCA empowers resolution professionals to sign and file e-charge
forms’. Dinesh says, “Generally for recording a creation, modification or satisfaction of a charge, the
Directors, Company Secretary or Authorized Representative of the Company were authorized to file the
relevant Form CHG with the MCA. However, post a Company being admitted into
Insolvency/Liquidation, the Board of Directors of the company were superseded with management and
control, vesting with the IRP/RP appointed by the NCLT. The amendment enables IRP /RP/Liquidators
to file the necessary e-forms inter alia for creation/alteration/satisfaction of Charge.”

Read the comment and detailed article here: https://bit.ly/3eoGayr (https://bit.ly/3eoGayr)

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