How do you file satisfaction of charges?
How do you file satisfaction of charges?
Following Procedure is to be followed
- Convene a Meeting of Board of Directors [As per section 173 & SS-1]
- File Application for seeking Extension of time limit.
- File Form CHG-4 with ROC.
- Certificate of Registration of Satisfaction of Charge by ROC.
- Make Necessary entries in the Register of Charge.
What is Memorandum of satisfaction of Charge?
A document stating that a mortgage or charge on property has been repaid. It has to be signed by all the parties concerned and a copy sent to the Registrar of Companies, if the mortgage or charge was made by a company.
Can satisfaction of Charge be filed after 30 days?
Every company shall intimate the RoC of the payment or satisfaction (in full) of any charge relating to the company within 30 days from the date of such payment or satisfaction….eForm CHG-4 – Particulars for satisfaction of charge thereof.
| Period of delays | Form CHG-4 |
|---|---|
| Up to 30 days | 3 times of normal fees |
| More than 30 days and up to 60 days | 6 times of normal fees |
What is Form 42A?
FORM 42A. Certificate Of Registration Of *Satisfaction.
What is form no Chg-4?
A company is required to give intimation to the Registrar in the Form CHG-4, on the payment or satisfaction in full of any charge registered with ROC within a period of thirty days from the date of such payment or satisfaction.
Is board resolution required for satisfaction of charge?
For satisfaction of charge, board resolution is not required. Mere satisfaction letter / charge release letter provided by bank is enough. You may take the noting of satisfaction in the minutes if required.
Can charge be created after 120 days?
– The date of creation or modification of charge is before 01.03. 2020 but the timeline for filing , i.e. 120 days has not expired as on 01.03. 2020. Therefore, it is not applicable to cases whose creation or modification of charges was before 03.11.
How do you fill a Chg 4?
Contents of Form CHG-4
- CIN of the Company (Corporate Identification Number)
- Charge creation identification (ID)number.
- Particulars of charge holder or ARC or assignee.
- Particulars of creation of original charge or subsequent modifications.
- Date of satisfaction of charge in full.
When Chg 4 is required to be filed?
What is ROC in home loan?
ROC is as such Registration certificate issued to company by Registrar (again ROC), which will be not be required in case of individual loan applicants.
