Querry related to satisfaction charges

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PLZZ ANY SOLVE THIS QUERRY WHAT IS THE MAXIMUM PENALTY FOR NOT FILLING SATISFACTION OF CHARGES EG, COMPANY TAKEN LOAN FROM BANK & FILLED THE FORM FOR CREATING CHARGES ON 27/08/2008 WITH ROC AND CLEARED ALL DUES & GOT THE NO DUE CERTIFICATE FROM BANK ON 05/06/2009 BUT YET NOT FILLED THE SATISFACTION OF CHARGES FORM WITH ROC SO CAN I KNOW WHAT WILL BE THE MAXIMUM PENALTY AMOUNT TILL DATED ,THE COMPANY WAS HAVING 1 LAKH RS  PAID UP CAPITAL .& 5 LAKH AUTHORISED SHARE CAPITAL AND IF I TAKE THE CURENT DATE NO DUE CERTIFICATE FROM BANK WILL IT OK TO FILE FORM 4 FOR SATISFATION OF CHARGES.

 

Replies (1)

Legally speaking, return for satisfaction of charge must be filed within 30 days of satisfaction of the charge.  However,  in practice in case of delay companies are taking NOC from Bank in current date and file with ROC.

 

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