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Charge Satisfaction

The satisfaction of charge needs to be intimated to the ROC within 30 days of full satisfaction of charge. The filing of intimation is done in Form Number CHG-4 with ordinary filing fee based on the authorised capital of the company. However by virtue of proviso of Section 82(1) the intimation can be filed beyond 30 days with an additional fee if filed within 300 days of the date of satisfaction. Section 86 provides for penal consequences for default which may result in heavy fine or imprisonment.

Steps to form a Charge Satisfaction

Conduct a
board meeting
Execute
Necessary documents
Filing document
of forms
Updation of
master data

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Procedure

Charge Satisfaction

The satisfaction of charge needs to be intimated to the ROC within 30 days of full satisfaction of charge. The filing of intimation is done in Form Number CHG-4 with ordinary filing fee based on the authorised capital of the company. However by virtue of proviso of Section 82(1) the intimation can be filed beyond 30 days with an additional fee if filed within 300 days of the date of satisfaction. Section 86 provides for penal consequences for default which may result in heavy fine or imprisonment.

The intimation is to be given within 30 days of satisfaction; the satisfaction is the date of complete payment of debt towards which the charge on assets of the company was created. The charge satisfaction document must specifically contain Amount Secured and the Date of Complete Satisfaction. Satisfaction of Charge and Filing of Form CHG-4 by a Company

Documents

  • Charge Satisfaction Letter from Bank
  • DSC of any one director
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