Charges

As per my view we need to satisfy the charge with ABC and create a new charge for xyz

In my opinion modifications can be done in terms and conditions (like change in Interest rate or Due date of payment) which was created at the time of creation of charge.

But here in the above case company changing the charge holder.

In order to close the first creation of charge we should satisfy it and create a new charge in the name of XYZ.

If you want to close the first charge directly then ABC Bank should response to registrar stating that no payment is due from your company all principal and interest amount has been paid without any default.

Nothing....

Just you can move XYZ bank for take over the Charge. Then also get settlement from XYZ to ABC...