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satisfaction of charge

27 March 2019

when satisfaction of charge is not filed with in period . after that when we file CHG 4 sign of charge holder is mandatory for sign this form?

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Radhey Shyam Jha (Student) (1621 Points)
Replied 27 March 2019

The satisfaction of charge needs to be intimated to the ROC within 30 days of full satisfaction of charge. The filing of intimation is done in Form Number CHG-4 with ordinary filing fee based on the authorised capital of the company. However by virtue of proviso of Section 82(1) the intimation can be filed beyond 30 days with an additional fee if filed within 30 days of the date of satisfaction. Section 86 provides for penal consequences for default which may result in heavy fine or imprisonment.

In case charge satisfaction is not filed within 300 days then the only option with the company is to move a compounding application before the regional director of the ministry of corporate affairs or any other office as may be authorised in due course of time by MCA.