Borrow beyond paid-up capital + free reserves: requires SR at GM. Borrowing Beyond Limit (S.180(1)(c)) takes 5 steps over about 111 days and is filed with the ROC on MGT-14 and CHG-1.
Last updated: 10 August 2026
MCA charges additional fees that rise with the delay, up to 12 times the normal filing fee. OnCompliance tracks the date and warns you before it costs anything.
5 steps over about 111 days, filing MGT-14 and CHG-1 with the ROC. Each deadline below runs from the step before it.
| # | Step | Form filed | Deadline |
|---|---|---|---|
| 1 | Board Proposes Borrowing | None | within 7 days |
| 2 | Pass Special Resolution at GM | None | within 30 days |
| 3 | File MGT-14 | MGT-14 | within 30 days |
| 4 | Execute Loan Agreement | None | within 14 days |
| 5 | Create Charge (if applicable) | CHG-1 | within 30 days |
The 5 steps below run in order; the day counts show how long each one allows.
Board identifies need to borrow beyond paid-up capital + free reserves limit.
Members approve borrowing beyond limit via SR.
File SR with ROC within 30 days.
Execute loan/borrowing agreement with the lender.
File CHG-1 if charge created on company assets.
Every guide runs like this in OnCompliance: steps in order, dates in view, paperwork made for you at each step.
About 111 days across 5 steps. The first step is: Board Proposes Borrowing.
MGT-14 and CHG-1. MGT-14 is the filing of resolutions filing under §117 of the Companies Act 2013. CHG-1 is the creation of charge filing under §77 of the Companies Act 2013.
MCA charges additional fees that rise with the delay, up to 12 times the normal filing fee.
Yes. OnCompliance runs the same steps in order, dates in view, with the paperwork made for you at each step.