Satisfaction of charge
This query is : Resolved
07 December 2015
Are we suppose to pass board resolution for satisfaction of charge, where charge is created by bank on debtors of the company for bill discounting facility.the company has never used this facility and therefore decided to close this od facility.
please help, and if so then kindly help me out with draft boardc resolution for satisfaction of charge.
please help, and if so then kindly help me out with draft boardc resolution for satisfaction of charge.
CA CS Jainam Shah
(Expert)
07 December 2015
No need to pass the resolution in satisfaction of charge. You are required to file CHG - 4 within 30 days of charge satisfaction.
07 December 2015
Thank you jainam
but while filling chg 4 at the end we have to mention board resolution no. and date..
then without board reaolution what to write there...???
but while filling chg 4 at the end we have to mention board resolution no. and date..
then without board reaolution what to write there...???
CA CS Jainam Shah
(Expert)
07 December 2015
Ok. Yes you are right. My mistake. Just pass simple resolution mentioning that company is closing its OD facility and the compliance is to be completed by the xyz person.
Drop your email id I will mail you format of resolution by tomorrow noon.
Drop your email id I will mail you format of resolution by tomorrow noon.
07 December 2015
My email id is
pratik2031@gmail.com
and also tell me is it necessary to pass resolution of that date on which i have received no due certificate of bank.is it fine if i pass resolution of earlier date.from when is 30 days calculated,where there is no actual payment of money .just cloaure of facility.because i gave a letter about 45 days before to bank for the closure.shall i pass the resolution of that date.any how i received NDC on 17th november.
Thank you in advance
pratik2031@gmail.com
and also tell me is it necessary to pass resolution of that date on which i have received no due certificate of bank.is it fine if i pass resolution of earlier date.from when is 30 days calculated,where there is no actual payment of money .just cloaure of facility.because i gave a letter about 45 days before to bank for the closure.shall i pass the resolution of that date.any how i received NDC on 17th november.
Thank you in advance
CA CS Jainam Shah
(Expert)
07 December 2015
30 days should be counted from the 17th November as you have received NDC from Bank. It is actual satisfaction of charge.
You can pass the resolution before the NDC date as first board has decided to close OD facility and after that you received NDC.
You can pass the resolution before the NDC date as first board has decided to close OD facility and after that you received NDC.
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CA CS Jainam Shah
(Expert)
08 December 2015
Pratik I have send you an email regarding format of board resolution for satisfaction of charge.
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