Procedure For Satisfaction of Charge


As per the provisions of  Section 82 of the Companies Act, 2013 A company shall give intimation to the Registrar in the prescribed form, of the payment or satisfaction in full of any charge registered under this Chapter within a period of thirty days from the date of such payment or satisfaction and the provisions of sub-section (1) of section 77 shall, as far as may be, apply to an intimation given under this section.

Procedure For Satisfaction of Charge

1. Ensure that:
(a) in respect of charges created and registered under Section -77 of the Companies Act, 2013, full payment of principal and interest has been made.
(b) No dues certificate has been obtained from charge holder.

2. Convene a Board Meeting to consider the letter of satisfaction of charge and pass the board resolution containing authorization to file Form CHG-4.

3. A Company shall give intimation in Form CHG-4 within 30 days of satisfaction of charge along with the following particulars and attachments:
(a) Corporate Identity No. or Foreign Company Registration No. or Global location No. of company
(b) Name, Address, Email-Id of Company
(c) Charge Creation Identification No. of Charge
(d) Particulars of charge holder
(e) Date of satisfaction of charge in full
(a) Letter of the charge holder stating that the amount has been satisfied
(b) Optional attachments.
4. Where the Registrar is satisfied and enters a memorandum of satisfaction of charge in full then certificate is obtained in Form CHG-5.
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