Satisfaction of charge
This query is : Resolved
06 August 2014
Please tell me the difference between creation of charge and satisfaction of charge.
Then when the company settle all its dues to bank then satisfaction of charge is filed
Then when the company settle all its dues to bank then satisfaction of charge is filed
06 August 2014
The financial institutions/banks do not lend their monies unless they are sure that their funds are safe and they
would be repaid as per agreed repayment schedule along with payment of interest. In order to secure their loans
they resort to creating right in the assets and properties of the borrowing companies, which is known as a charge
on assets.
According to section 82 read with the rules, the company shall give intimation to the Registrar of the payment or
satisfaction in full of any charge within a period of thirty days from the date of such payment or satisfaction in
Form No.CHG-4 along with the fee.
would be repaid as per agreed repayment schedule along with payment of interest. In order to secure their loans
they resort to creating right in the assets and properties of the borrowing companies, which is known as a charge
on assets.
According to section 82 read with the rules, the company shall give intimation to the Registrar of the payment or
satisfaction in full of any charge within a period of thirty days from the date of such payment or satisfaction in
Form No.CHG-4 along with the fee.
Message likes :
1 times
06 August 2014
The financial institutions/banks do not lend their monies unless they are sure that their funds are safe and they
would be repaid as per agreed repayment schedule along with payment of interest. In order to secure their loans
they resort to creating right in the assets and properties of the borrowing companies, which is known as a charge
on assets.
According to section 82 read with the rules, the company shall give intimation to the Registrar of the payment or
satisfaction in full of any charge within a period of thirty days from the date of such payment or satisfaction in
Form No.CHG-4 along with the fee.
would be repaid as per agreed repayment schedule along with payment of interest. In order to secure their loans
they resort to creating right in the assets and properties of the borrowing companies, which is known as a charge
on assets.
According to section 82 read with the rules, the company shall give intimation to the Registrar of the payment or
satisfaction in full of any charge within a period of thirty days from the date of such payment or satisfaction in
Form No.CHG-4 along with the fee.
07 August 2014
Agree with the opinion of expert.
When company borrow money and mortgage its property to secure the loan, it is called creation of charge on the property of the company in favour of bank.
On the other hand when company repay the loan in full and redeem its property, it is called satisfaction of charge.
Thanks
When company borrow money and mortgage its property to secure the loan, it is called creation of charge on the property of the company in favour of bank.
On the other hand when company repay the loan in full and redeem its property, it is called satisfaction of charge.
Thanks
07 August 2014
Thanks friend for your answer
07 August 2014
You are always welcome Santosh ji and keep sharing your doubts through the platform of caclubindia.
thanks
thanks
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Treatment of Pension ?annuity returns on PMVY
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Regarding IMS Mandatory from 1st July 2026
- AY 26-27 ITR-4 FILING U/S 44-ADA
- TDS on payment to CHA as per new section
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
