Companies Act, 2017

PART-VI

REGISTRATION OF MORTGAGES, CHARGES, ETC.

Companies Act, 2017 PART-VI REGISTRATION OF MORTGAGES, CHARGES, ETC. From: 2023-11-01 - To: 0000-00-00 109. Company to report satisfaction of charge- (1) A company shall give intimation to the registrar in the manner specified, of the payment or satisfaction, in full, of any mortgage or charge created by it and registered under this Part, within a period of thirty days from the date of such payment or satisfaction. (2) The registrar shall, on receipt of intimation under sub-section (1), cause a notice to be sent to the holder of the mortgage or charge calling upon him to show cause within such time not exceeding fourteen days, as may be specified in such notice, as to why payment or satisfaction in full shall not be recorded as intimated to the registrar, and if no cause is shown, by such holder of the mortgage or charge, the registrar shall accept the memorandum of satisfaction and make an entry in the register of charges kept by him under section 102: Provided that the notice…