Satisfaction of Charge

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Saliq Ansari (Querist)

17 February 2011 The Company had made payment of Charge by Aug 10 & not yet intimated RoC (Form 17).

Now Company wants to file Form 17 what would be the procedure will form 21 should also be filed (u/s 141) or just Form 17 will do.

Kindly help

parthasarthy naidu

parthasarthy naidu (Expert)

18 February 2011 Form 17 is required to be filed within 30 days from the date of satisfaction of charge. In the instant case, the period of thirty days has already expired. Under the said circumstances, it would be adviseable to obtain a letter in the current date to the effect that the charge is satisfied and based on this letter form 17 can be filed. The current date letter should also be annexed to the form 17 to be filed with the ROC. This will complete the procedure and the form 17 will be taken on record by the ROC in full satisfaction of the charge.

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Saliq Ansari

Saliq Ansari (Querist)

18 February 2011 Thanks Parthasarthy Naidu

The letter of Satisfaction had been taken on Aug-2010, will there be any penalty to be paid along now & whether Form 21(u/s 141) should be filed or not, if yes then what is the procedure for same

parthasarthy naidu

parthasarthy naidu (Expert)

18 February 2011 There is no necessity to file form 21. You can straightaway file form 17 based on the current dated letter received from the bank whose dues has been satisfied in full and final.

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