E-form 17

This query is : Resolved

rahul nagori (Querist)
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12 April 2012 Whether charge is satisfied in favour of asset reconstruction company (ARC) or assignee (Yes/No)

what if chargeholder is Scheduled bank ? or a NBFC ?

Ajay Mishra

Ajay Mishra (Expert)
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12 April 2012 Hi

Form 17 is filed with reference to the Form -8 which was already filed and charge ID is created. when u will file Form-17 it will demand Charge ID of charge which are going to be satisfied after filling the details will automatically shows.

You have no option to change.

Regards

vignesh

vignesh (Expert)
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15 April 2012 Hi

Click No in the field of ARC. in Form 17. The chargeholder i.e. the bank or NBFC should be appeared as per the index of charges in Form 17.

rahul nagori

rahul nagori (Querist)
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17 April 2012 in e-form 17 what does FINAL AMOUNT SECURED MEANS ?

vignesh

vignesh (Expert)
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17 April 2012 Hi

Amount appearing on the view index of charges against the particular charge id.

rahul nagori

rahul nagori (Querist)
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23 April 2012 In E-form 17 what does "date of satisfaction mean" date of full and final payment to bank or date on which we recieve NDC letter from Bank, Please clarify the same.

Ajay Mishra

Ajay Mishra (Expert)
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23 April 2012 The date of Bank letter.

rahul nagori

rahul nagori (Querist)
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24 April 2012 Thanks ajay for answering the queries but, would appreciate if you provide me with clarification on it. still some of people over here saying that date of payment .

regards

Ajay Mishra

Ajay Mishra (Expert)
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24 April 2012 Hi Rahul,

Every Company have different practice of issuing letter of satisfaction of payments.

For example, if your company has made all payments to Bank and against it Bank issued a letter stating that the company has made all payment and no dues pending as on date. with heading "Letter of Satisfaction". Bank letter date is 14.04.2012. In this letter the bank has not mention the date of payments but the bank said that as on 14.04.2012 no due is pending. This letter will be treated as satisfaction letter.

In my case, I generally use this practice and comply the Form-17 requirement.

At the end, its depend on Bank letter what it says.

Regards

rahul nagori

rahul nagori (Querist)
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11 June 2012 Thanks for the clarification.

rahul nagori

rahul nagori (Querist)
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11 June 2012 Thanks for the clarification.

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