Mortgages and charges must be register as per section 121 of the Companies Ordinance
(a) A mortgage or charge for the purpose of securing any issue of debentures
(b) A mortgage or charge on uncalled share capital of the company; or
(Uncalled share capital is the balance owing for shares that are issued partly
(c) a mortgage or charge on any immovable property wherever situate,or any interest therein; or
(d) a mortgage or charge on any book debts of the company; or
(e) A mortgage or charge, not being a pledge, on any movable property of the company; or
(f) A floating charge on the undertaking or property of the company,including stock-in-trade.
Which documents are required to be filed for registration of mortgage or charge?
- Form 10
- A Copy of instrument(s) creating the mortgage or charge
- An Affidavit
What is the Registration charges of Mortgage or charge in SECP?
Fee (Can be pay via Online and offline) 11,000-Online fee PKR as today Jan-2024.
What do ‘instrument’ and evidence’ mean in this chapter?
An 'instrument' is a paper or electronic document that shows a mortgage or charge was created