{"id":16201,"date":"2023-03-14T16:01:57","date_gmt":"2023-03-14T10:31:57","guid":{"rendered":"https:\/\/gstguntur.com\/?p=16201"},"modified":"2023-03-14T16:01:57","modified_gmt":"2023-03-14T10:31:57","slug":"registration-of-charges-ca-inter-law-mcq","status":"publish","type":"post","link":"https:\/\/gstguntur.com\/registration-of-charges-ca-inter-law-mcq\/","title":{"rendered":"Registration of Charges \u2013 CA Inter Law MCQ"},"content":{"rendered":"

Registration of Charges \u2013 CA Inter Law MCQ<\/a>\u00a0is designed strictly as per the latest syllabus and exam pattern.<\/p>\n

Registration of Charges \u2013 CA Inter Law MCQ<\/h2>\n

Qestion 1.
\nA charge was created on assets of Pram Limited, Such charge is registered on 12th November, 2021. Any person acquiring such assets shall be deemed to have notice of the charge. (Give your answer as per the provisions of the Companies Act, 2013)<\/p>\n

(a) from 12th November, 2021.
\n(b) from 13th November, 2021.
\n(c) from 12th December, 2021.
\n(d) from 12th January, 2021.<\/p>\n

Answer:<\/p>\n

(a) from 12th November, 2021.<\/p>\n

Question 2.
\nAny person acquiring property (on which charge is registered u\/s 77) shall be deemed to have notice of the charge from:<\/p>\n

(a) 30 days of such charge.
\n(b) date of application for charge.
\n(c) date of acquiring the property.
\n(d) date of such registration.<\/p>\n

Answer:<\/p>\n

(d) date of such registration.<\/p>\n

\"Registration<\/p>\n

Questions From RTPs, MTPs AND PAST EXAMS (MEMORY BASED) OF ICAI<\/strong><\/p>\n

Question 3.
\nPurvi Pvt Ltd. is maintaining a register of charges along with all other necessary books and registers. The entry for every creation, modification and satisfaction of charges is being done properly. The company is also preserving every instrument related to such charges. From the following for how long the instrument of charges shall be maintained\/ preserved by the company. [MTP-April 19]<\/p>\n

(a) For minimum 8 years from the date of creation of charge.
\n(b) For minimum 10 years from the date of creation of charge.
\n(c) For minimum 8 years from the date of satisfaction of charge.
\n(d) Permanently without any time limit.<\/p>\n

Answer:<\/p>\n

(c) For minimum 8 years from the date of satisfaction of charge.<\/p>\n

Question 4.
\nEztech Machines Limited owns a plot of land which was mortgaged to Urbane Commercial Bank Limited for raising term loan of \u20b9 2 crore. The mortgage was duly registered with the Central Registry. First loan instalment of \u20b9 50 lakhs was released immediately after sanction of term loan with the condition that subsequent three instalments of \u20b9 50 lakhs shall be released as soon as the earlier released instalment is utilized satisfactorily.<\/p>\n

Is it necessary either for the company or the bank to register the charge on plot with the concerned Registrar of Companies (RoC) when the mortgage is registered with the Central Registry? [MTP-Oct. 19, RTP-Nov. 19]<\/p>\n

(a) It is not necessary either for the bank or the company to register the charge on plot of land with the concerned Registrar of Companies (RoC] when the mortgage is registered with the Central Registry.
\n(b) It is necessary to get the charge on plot on land registered with the concerned Registrar of Companies (RoC] irrespective of the fact that mortgage is registered with the Central Registry.
\n(c) The charge on plot needs to be registered with the concerned Registrar of Companies (RoC] only when the actual liability of the company with the Bank exceeds \u20b9 1 crore.
\n(d) The charge on plot needs to be registered with the concerned Registrar of Companies (RoC] only when the term loan sanctioned by the bank to the company exceeds \u20b9 2 crores.<\/p>\n

Answer:<\/p>\n

(b) It is necessary to get the charge on plot on land registered with the concerned Registrar of Companies (RoC) irrespective of the fact that mortgage is registered with the Central Registry.<\/p>\n

\"Registration<\/p>\n

Question 5.
\nOn receipt of intimation of satisfaction of charge, the registrar issues a notice to the holder calling a show cause within such time not exceeding ____ days as to why payment or satisfaction in full should not be regarded as intimated to the Registrar. (MTP-Oct. 19)<\/p>\n

(a) 14
\n(b) 21
\n(c) 30
\n(d) 300<\/p>\n

Answer:<\/p>\n

(a) 14<\/p>\n

Question 6.
\nWith a view to augment its production, Surya Techno-Products Limited availed a loan of \u20b9 50 lakhs from Shrilaxmi First Bank Limited for purchase of a new machinery by offering its factory worth \u20b9 2.25 crores as security. However, the company did not initiate any steps to get the charge on factory registered in favour of lending banker within the specified time.<\/p>\n

As soon as the charge-holder bank came to know about the non-registration of charge with the RoC, it applied to the Registrar for registration of charge along with the instrument creating the charge and paid the requisite fees when demanded. Advise the bank whether it can recover the fees so paid for registration of chaise from Surya Techno Products. [RTP-Nov. 19]<\/p>\n

(a) Yes, the bank can recover the fees paid by it for registration of charge.
\n(b) No, the bank cannot recover the fees paid by it for registration of charge because the bank is equally responsible for getting the charge registered.
\n(c) Only when it obtains recovery orders from Regional Director (RD), the bank can recover the fees paid by it for registration of charge from the company.
\n(d) Only when it obtains recovery orders from National Company Law Tribunal (NCLT), the bank can recover the fees paid by it for registration of charge from the company.<\/p>\n

Answer:<\/p>\n

(a) Yes, the bank can recover the fees paid by it for registration of charge.<\/p>\n

\"Registration<\/p>\n

Question 7.
\nA charge was created by Cygnus Softwares Limited on its office premises to secure a term loan of \u20b9 1 crore availed from NextGen Commercial Bank Limited through an instrument of charge executed by both the parties on 16th February, 2022. Inadvertently, the company could not get the charge registered with the concerned Registrar of Companies (RoC) within the first statutory period permitted by law and the default was made known to it by the lending banker with a stern warning to take immediate steps for rectification.<\/p>\n

Advise the company regarding the latest date within which it must register the charge with the RoC so that it is not required to pay a specific type of fees for charge registration. [RTP-Nov. 19]<\/p>\n

(a) With a view to avoid paying a specific type of fees for charge registration, the company must get the charge registered latest by 27th April, 2022.
\n(b) With a view to avoid paying a specific type of fees for charge registration, the company must get the charge registered latest by 17th April, 2022.
\n(c) With a view to avoid paying a specific type of fees for charge registration, the company must get the charge registered latest by 2nd May, 2022.
\n(d) The company cannot now get the charge register as the time prescribed by Law has expired.<\/p>\n

Answer:<\/p>\n

(b) With a view to avoid paying a specific type of fees for charge registration, the company must get the charge registered latest by 17th April, 2022.<\/p>\n

Question 8.
\nCyplish Games and Toys Limited was sanctioned a term loan of \u20b9 60 lakhs by Zawnn Industrial Bank Limited on 21st November, 2021. As a security, the company offered its office premises situated at Bandra, Mumbai and an instrument of charge was executed. However, the company failed to get the charge registered with the concerned Registrar within the first as well as second statutory period available as per law.<\/p>\n

This was adversely commented by the internal auditors of the bank and therefore, after a strict advisory received from Shahji, the senior manager of the bank, the company was prompted to take steps for registration of charge. Name the specific type of fees which the company is now required to pay for registration of charge. [RTP-Nov. 19]<\/p>\n

(a) Special Fees.
\n(b) Ad valorem Fees.
\n(c) A Late Registration Fees.
\n(d) Ad valorem Duty.<\/p>\n

Answer:<\/p>\n

(b) Ad valorem Fees.<\/p>\n

\"Registration<\/p>\n

Question 9.
\nThe instrument creating a charge or modification thereon shall be preserved for a period of ___ years from the date of satisfaction of charge by the company. [MTP-March 21]<\/p>\n

(a) 5
\n(b) 7
\n(c) 8
\n(d) 15
\nAnswer:<\/p>\n

(c) 8<\/p>\n

Question 10.
\nAn interest or lien created on the property or assets of a company or any of its undertakings or both as security is known as: [MTP-March 21, March 22]<\/p>\n

(a) Debt
\n(b) Charge
\n(c) Liability
\n(d) Hypothecation<\/p>\n

Answer:<\/p>\n

(b) Charge<\/p>\n

Question 11.
\nThe registrar shall keep a register of charges which shall be open to inspection by ____ on payment of fees: [MTP-April 22]<\/p>\n

(a) the company
\n(b) the charge holder
\n(c) holder
\n(d) any person<\/p>\n

Answer:<\/p>\n

(d) any person<\/p>\n","protected":false},"excerpt":{"rendered":"

Registration of Charges \u2013 CA Inter Law MCQ\u00a0is designed strictly as per the latest syllabus and exam pattern. Registration of Charges \u2013 CA Inter Law MCQ Qestion 1. A charge was created on assets of Pram Limited, Such charge is registered on 12th November, 2021. Any person acquiring such assets shall be deemed to have …<\/p>\n

Registration of Charges \u2013 CA Inter Law MCQ<\/span> Read More »<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[167],"tags":[],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/gstguntur.com\/wp-json\/wp\/v2\/posts\/16201"}],"collection":[{"href":"https:\/\/gstguntur.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/gstguntur.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/gstguntur.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/gstguntur.com\/wp-json\/wp\/v2\/comments?post=16201"}],"version-history":[{"count":3,"href":"https:\/\/gstguntur.com\/wp-json\/wp\/v2\/posts\/16201\/revisions"}],"predecessor-version":[{"id":16209,"href":"https:\/\/gstguntur.com\/wp-json\/wp\/v2\/posts\/16201\/revisions\/16209"}],"wp:attachment":[{"href":"https:\/\/gstguntur.com\/wp-json\/wp\/v2\/media?parent=16201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/gstguntur.com\/wp-json\/wp\/v2\/categories?post=16201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/gstguntur.com\/wp-json\/wp\/v2\/tags?post=16201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}