Who needs to file for satisfaction of charge in ROC

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If a company has taken a loan from a bank/financial institution which is later settled by the company then whose responsibility is it to file the satisafaction of charge in ROC ?

If it's not filed in time then who will bear the liability for late filing ?

Replies (2)

It is the responsibility of the company to file the Form for Satisfaction of Charge. The company will bear all the related expenses.

The company shall intimate to RoC within 30 days from the date of such payment or satisfaction. The particular of satisfaction of charge shall be filed in Form No.- CHG 4 with "no dues letter" issued by the creditor.


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