Satisfaction of Charge
All companies with registered charges. Upon full repayment and release of a charge, the company must file Form CHG-4 within 30 days to record satisfaction of the charge.
A charge that isn't properly registered is a charge that doesn't fully protect anyone. Section 82(1) is what makes this enforceable against third parties. What that means day to day: intimation of full payment/satisfaction filed with Registrar (Form CHG-4) within 30 days of payment/satisfaction. Three minutes, zero second-guessing — that's the whole point of Fi CTC Generator.
Form CHG-4 must be filed within 30 days of the date of satisfaction of the charge. Obtain a No Objection Certificate (NOC) / release letter from the lender before filing.
Section 82, Companies Act 2013; Rule 8
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