Condonation of delay-satisfaction of charge

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Querist : Anonymous

Querist : Anonymous (Querist)

21 January 2017 Kindly let me know the complete process along with forms required to be filed for condonation of delay in satisfaction of charge. Please also share the format of petition as per the companies Act, 2013.

Jatin Bajaj

Jatin Bajaj (Expert)
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23 January 2017 processs of condonation of delay in case of satisfaction of charge
if the Company has paid the amount in full the company has to file form CHG 4 within 30 days of satisfaction of charge. if company has not filed the form within 30 days , company will have to go for condonation of delay as per section 87:
first of all company will have to file form chg 4 for satisfaction of charge . the challan letter will generate the delay ( the no of delayed period after the due date on basis of which penality will be calculated)
company will have to file form CHG 8 to RD along with following attachments:
petition to RD Authorising Director to sign the petition
affidivait by Director along with the signature of witness
Copy of Board Resolution authorising Director to sign Petition , affidavit or any other document with respect to satisfaction of charges
copy of form of chg 4 duly signed by director
copy of challan of chg 4
copy of Noc received from banks or charge holder

on the receipt of the aforsaid forms and documents , RD will fix the date of hearing and will give the reasonable oppertunity of being heard and will pass the order.
within 30 days of order passed by RD , Company will have to file copy of RD to ROC in form INC 28 , within 30 days of receipt of order of RD

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