Rule-3 Registration of creation or modification of charge shall not apply to any charge required to be created or modified by a banking company under section 77 in favour of the RBI when any loan or advance has been made to it under section 17(4)(d) of the RBI Act, 1934 – The Companies (Registration of Charges) Amendment Rules, 2022
MCA amends “Rule-3: Registration of creation or modification of charge” of the Companies (Registration of Charges) Rules, 2014 inserting a new sub-rule (5). The sub-rule (5) states that nothing contained in Rule-3 shall apply to any charge required to be created or modified by a banking company under section 77 in favour of the Reserve Bank of India when any loan or advance has been made to it under sub-clause (d) of clause (4) of section 17 of the Reserve Bank of India Act, 1934.