Section 137 - Entry in register of charges of appointment of receiver or manager. - Companies Act, 1956

Entry in register of charges of appointment of receiver or manager. 137. (1) If any person obtains an order for the appointment of a receiver of, or of a person to manage, the property of a company, or if any person appoints such receiver or person under any powers contained in any instrument, he shall, within [1] [thirty] days from the date of the passing of the order or of the making of the appointment under the said powers, give notice [2] of the fact to the Registrar; and the Registrar shall, on payment of the prescribed fee, enter the fact in the register of charges. (2) Where any person so appointed under the powers contained in any instrument ceases to act as such, he shall, on so ceasing, give to the Registrar notice [3] to that effect; and the Registrar shall enter the notice [4] in the register of charges. (3) If any person makes default in complying with the requirements of sub-section (1) or (2), he shall be punishable with fine which may extend to [5] [five hundred rupees] for every day during which the default continues. ------------------------------------- Notes:- [1] Substituted by the Companies (Amendment) Act, 1965, Act 31 of 1965, section 62 and Schedule for "fifteen" w.e.f. 15-10-1965. [2] See e-Form 15, Companies (Central Government's) General Rules and Forms, 1956. [3] See e-Form 10, Companies (Central Government's) General Rules and Forms, 1956. [See e-Form 15, Companies (Central Government's) General Rules and Forms, 1956.]. [4] See e-Form 13, Companies (Central Government's) General Rules and Forms, 1956. [5] Substituted for "fifty rupees" by the Companies (Amendment) Act, 2000, w.e.f. 13-12-2000.