Satisfaction of charge ?

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Querist : Anonymous

Querist : Anonymous (Querist)

15 August 2013 dear all my query is i have filed a form 17 for satisfaction of charge after 38 days from the date of satisfaction now it has to be cleared from CLB what is the procedure for that ?

Ajay Mishra

Ajay Mishra (Expert)
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15 August 2013 Hi

If you have file Form-17 for satisfaction of charges then you will face panel provision and request to CLB for condonation of delay.

Ajay Mishra

Ajay Mishra (Expert)
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15 August 2013 Condonation of Delay for Delayed Filing of Form 8 / Form 17 Procedures under The Companies Act
Now condonation of delay for late filing of Form 8 and form 17 under the Companies Act, 1956, requires a petition to be filed with Regional Director, Ministry of Corporate Affairs and earlier the same was required to be made to Company Law Board. The procedure for making the petition for condonation of delay under Section 141 of the Companies Act, 1956 is given below.
1. Call for a board meeting to decide to file a petition under Section 141 for condonation of delay in respect of form 8 and form 17 filed after due date. Form 8 can be filed within 30 days from the date of creation or modification and if it is not possible additional period of 30 days is allowed that is within 60 days and in case of Form 17 within 30 days from the dated of satisfaction of charge.
2. In the Board meeting authorize the Practicing Company Secretary / Practicing Chartered Accountant to appear on behalf of the company.
3., File 8 / Form 17 with ROC. One time filing fees will be required to be paid and remark will be appearing challan of the Form 8 / Form 17 regarding number of delays.
4. Prepare a petition for condonation of delay. A format of the petition is annexed.
5. Reason for the delay must be specific. Don’t mention that mistake is made inadvertently. Please specify that the officer entrusted with the work left the company or some other specific reason.
6. Prepare the petition and file it with form 24AAA. Form 24AAA is filing of form with Regional director. The charges for filing form is Rs. 1000/-
7. File Form 61 and file it with ROC. The charges for filing form is depending upon the Authorised Share Capital of the Company varying from Rs. 200 to Rs. 500

Ajay Mishra

Ajay Mishra (Expert)
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15 August 2013 The petition is required to be enclosed with the following documents. There is no need to file any demand draft along with the petition.
• Certified copy of Form 8 filed along with challan
• MOA and AOA copy
• Copy of the Board resolution
• Copy of Form 61 along with challan
• Copy of form 24AAA
• Memorandum of Appearance in case it is filed by a Practicing Professional.
• An affidavit verifying the petition on a non judicial stamp paper Rs. 20 which is notarized shall be attached.

The petition has to be filed with the Regional Director with the Regional Office of the Ministry of corporate Affairs in the jurisdiction where the existing registered office is situated

Ajay Mishra

Ajay Mishra (Expert)
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15 August 2013 Draft Board Resolution:

RESOLVED THAT the consent of the Board of Directors be and is hereby given to Mr. AAA, Managing Director or Mr. BBB Practicing Company Secretary, having his Office at Flat B, Brindha Flats, Old No. 27 New No. 67, Nethaji Street, West Mambalam Chennai – 600033 who shall be severally authorized to do the following:
1. Prepare, sign and submit petition u/s 141 of the Companies Act, 1956 and such other documents, applications, affidavits, Memorandum of Appearance as may be required by the Regional Director, Southern Region, Department of Corporate Affairs, Chennai-600006.
2. Make any alterations, corrections, additions, deletions, modifications in the aforesaid petition and documents as may be necessary for the effective admission of the petition, application etc.
3. Represent in person or through attorney before the Regional Director , Southern Region, Ministry of Corporate Affairs, Chennai, on behalf of the company and make such submission, written and/or oral as may be deemed expedient and in the interest of the company.
4. To agree on behalf of the Company to implement any directions as may be imposed by the said petition, application etc.
5. To collect the order from the Regional Director, Southern Region, Ministry of Corporate Affairs, Chennai, on behalf of the company with or without any payment as may be directed by the Regional Director, Southern Region, Ministry of Corporate Affairs, Chennai 600006.
6. To do all other acts, deeds and things as may be necessary in this regard.

Certified to be True
For............Limited

Director/Secretary

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