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As per the Companies Act, 2013, companies are required to file particulars of a charge within 30 days of the creation thereof, otherwise the charge is void against liquidators and creditors of the company. The purpose of registration of charge is to provide public notice to those who contemplate giving credit to the company on how far the property of the company is encumbered.
The company should also file for modification and satisfaction of charge with the Registrar of Companies within the stipulated time period.
As per the Companies Act, 2013, non-registration of a charge makes the company and officers of the company liable for fines and punishment.