When company repays its secured loan fully to the lender or when property or asset charged has been released from charge then it is known as satisfaction of charges. Every company is required to intimate registrar about the satisfaction of charges.
Satisfaction is intimated to ROC so that the assets or properties which are free from encumbrance can be updated in the system such that there is no loan of the company secured against it. Banks do check indexation of charges before giving the secured loan so this is very necessary for the company to update the Registrar with respect to satisfaction of charges.
As per the Companies Act, 2013 a company shall intimate the registrar about satisfaction of charges within a period of 30 days from the date of payment in full of any charge registered in form CHG-4 along with the prescribed fees.
Application can be made by:
Following forms are required for registration of satisfaction of charge:
The following particulars of charge should be filed with the Registrar:
Following Documents are required:
Fee in case company having share capital
|Nominal Share Capital||For company other than OPC or Small company||For OPC or Small Company|
|Less than 1,00,000||Rupees 200||Rupees 100|
|1,00,000 to 4,99,999||Rupees 400||Rupees 200|
|5,00,000 to 24,99,999||Rupees 600||Rupees 300|
|25,00,000 or more||Rupees 1000||Rupees 500|
Fee in case company not having share capital
|Fee in case of company not having share capital for company other than OPC or Small company||For OPC or Small Company|
|Rupees 500||Rupees 300|
|Period of delay||Additional Fee|
|Up to 30 days||3 times of normal fees|
|More than 30 days and up to 60 days||6 times of normal fees|
|More than 60 days and up to 120 days||9 times of normal fees|
|More than 120 days and less than 180 days||12 times of normal fees|
|More than 180 days but equal 270 days||20 times of normal fees|
|More than 270 days||30 times of normal fees|
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