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Urgent... Index of charges

Narayanan (Chartered Accountant) (189 Points)

30 October 2010

We are to about to apply for striking off name of a company (u/s 560). But when we were about to file, we found that the company has a charge unsatisfied... so when we called the client on the charge, he says that the charge has been satisfied long back and the charge satisfaction has been missed to be filed... the jolt now is that the lendor company has already closed down operations and is non-existent...

please guide me as to how to proceed with the charge satisfaction...

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2 Replies

HARDIK (COMPANY SECRETARY NCFM (Corporate Governance )) (664 Points)
Replied 30 October 2010

Hi form 17 for satisfaction of charge is required to be filed within 30 days from the satisfaction of charges. If you dont comply then now file form 17 and also make petition for condonation for delay in filling form 17 to CLB.

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CS MOHIT SALUJA (PRACTICING CS Jalandhar 9914558709) (5155 Points)
Replied 25 January 2012

if the lender company is not in existence, then the company may move to Concerned ROC with Affidavit and Indemnity Bonds and produce befire the ROC with complete details that the company is no longer in existence etc. then, If teh ROC is satisfied with the records produced, the ROC may withdrew and remove the charge from teh Index of charges and the company may proceed for Striking off teh name of the company.