Creating a charge on assets — Board Resolution Format
Creating a charge on assets is passed by the Board of Directors under Section 179(3)(f) and Section 77, Companies Act, 2013 (Form CHG-1) — this tool drafts the resolution, a certified true copy ready for the lender and the ROC (Form CHG-1), and the meeting notice, pre-filled for this exact resolution.
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Directors present
Creating a charge on assets
Section 179(3)(f) and Section 77, Companies Act, 2013 (Form CHG-1)
- · This is a Section 77 filing (Form CHG-1), which is separate from — and in addition to — any MGT-14 requirement; confirm the exact filing form and timeline (30 days, extendable) with a CS before relying on this.
- · Quorum under Section 174 applies.
Certification (for the Certified True Copy)
Defaults to today — a CTC is often certified well after the meeting.
Notice of meeting
Live preview — Certified True Copy
Add these before generating
- Company name
- CIN
- Registered office
- Registered office city
- At least one director with a DIN
- Meeting date
- Notice date
- Date of certification
- Signing director's DIN
- Creating a charge on assets: Chargeholder (lender)
- Creating a charge on assets: Charge type
- Creating a charge on assets: Asset(s) charged
- Creating a charge on assets: Facility being secured
- Creating a charge on assets: Sanction letter date
- Creating a charge on assets: Director authorised to execute and file
[COMPANY NAME] CIN: [CIN] Registered Office: [Registered Office] ────────────────────────────────────────────────────────────────────── CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF [COMPANY NAME] HELD ON [Date] AT 11:00 A.M. AT ITS REGISTERED OFFICE AT [Registered Office] Item No. 1: Creating a charge on assets "RESOLVED THAT the consent of the Board be and is hereby accorded to create a charge by way of [Charge type] over [Asset(s) charged] of the Company in favour of [Chargeholder (lender)] (hereinafter referred to as "the Chargeholder"), to secure the [Facility being secured] sanctioned by the Chargeholder vide sanction letter dated [Sanction letter date]. RESOLVED FURTHER THAT [Director authorised to execute and file], be and is hereby authorised to execute the deed of hypothecation/mortgage and all other documents required to create the said charge, and to file Form CHG-1 with the Registrar of Companies within the time prescribed under Section 77 of the Companies Act, 2013. RESOLVED FURTHER THAT a certified true copy of this resolution be furnished to the Chargeholder and to the Registrar of Companies as may be required." CERTIFIED TRUE COPY For [Company Name] _______________________ Director of the Company DIN: [DIN missing] Date: 28 July 2026 Place: [City]
What this resolution covers
Creating a charge on assets is used to hypothecate/mortgage company assets to secure a facility (CHG-1). It is passed under Section 179(3)(f) and Section 77, Companies Act, 2013 (Form CHG-1), at a board of directors meeting where quorum is one-third of the total strength of the Board or two directors, whichever is higher, under Section 174 of the Companies Act, 2013. The operative wording follows the standard "RESOLVED THAT... RESOLVED FURTHER THAT..." structure used across Indian corporate practice, naming the specific party, amount or person the resolution authorises, so it reads as a genuine minute rather than a generic template when placed before the board.
This is a Section 77 filing (Form CHG-1), which is separate from — and in addition to — any MGT-14 requirement; confirm the exact filing form and timeline (30 days, extendable) with a CS before relying on this. Quorum under Section 174 applies.
MGT-14 filing and shareholder approval
This resolution must also be filed with the Registrar of Companies in Form MGT-14 within 30 days of being passed, since it falls outside the routine Section 179(3) matters that private companies are exempt from filing. Missing the MGT-14 deadline attracts an additional filing fee that grows the longer it stays outstanding, so track the 30-day window from the meeting date, not from when the certified copy is actually issued.
Certified true copy for creating a charge on assets
The lender and the ROC (Form CHG-1) will almost always ask for a certified true copy of this resolution rather than the plain minutes extract — a director or the Company Secretary reviews the copy against the minute book and certifies it, on the company's letterhead, with their name, designation and DIN (or Membership Number and Certificate of Practice number for a CS). This tool generates that certified copy directly from the same resolution text, with a signature block that adapts automatically to whichever signatory type you choose, an optional common seal line, and a "furnished to" clause naming the recipient.
Selecting creating a charge on assets in the generator produces all three documents from one form — the board resolution (minutes extract), the certified true copy, and a Section 173 notice of meeting with the agenda already filled in — so nothing needs to be retyped across the three.
Frequently asked questions
Why this matters
A resolution on its own is an internal minute — a bank, the ROC, or a counterparty wants the certified true copy. Getting both right, every time, is what turns a compliance conversation into an engagement.
Related tools
Drafting resolutions for many companies? PracticeFlow keeps every company's records and deadlines in one place — so this draft is never the last document you need for a client.
See PracticeFlow for CS FirmsThis is a draft template. Review against your Articles of Association and the Companies Act, 2013 before use — not legal advice.