Satisfaction of charge

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2013 A company had taken loans from a bank and created charge on it. Now the loan is over long back but the charge is not satisfied yet. Now the company wants to satisfy the charge, so what can be done? Please guide me in this matter

Ajay Mishra

Ajay Mishra (Expert)
Follow

04 February 2013 Hi

Take a letter of satisfaction from bank and attached the same with Form-17 and file within 30 days from date of satisfaction.

Querist : Anonymous

Querist : Anonymous (Querist)

04 February 2013 Thank you Sir,
But there are approximately 50 loans over a period of 35 years which are over as of now but not yet satisfied. Filing form 17 for all of them wont create an issue?? Can ROC penalise as these loans were repaid much before and charges being satisfied now.
Please guide me on the same.

Ajay Mishra

Ajay Mishra (Expert)
Follow

05 February 2013 Hi

If you have created charge and file Form-8 with ROC then it is mandatory to to satisfied them by filing Form-17 otherwise you will face compounding for all cases.

Message likes : 1 times

Querist : Anonymous

Querist : Anonymous (Querist)

05 February 2013 Thank you Sir for the help

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

K.Govindarajan

Prakash J C

Sharang Sanjay Mangalekar

ATUL MAKWANA

Leena

Subscribe Now

Satisfaction of charge

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

GST CONSULTANCY

Accountant

Manager- Finance and Compliance

Senior Executive

CA Final

GST CONSULTANT