Rose (Private) Limited on 3rd April 2019 obtained ` 30 lakhs working capital loan by offering its Stock and Accounts Receivables as security and ` 5 Lakhs ado overdraft on the personal guarantee of a Director of Rose (Private) Limited, from a financial institution.
(i) Is it required to create a charge for a working capital loan and ado overdraft in accordance with the provisions of the Companies Act, 2013?
(ii) State the provisions relating to the extension of time and procedure for registration of charges in case the above charge was not registered within 30 days of its creation.