How to get Satisfaction of Charge certificate from Registrar of companies?

A company upon payment or satisfaction in full of any charge registered under Chapter VI of companies Act 2013 shall give intimation of satisfaction to the Registrar of Companies. The procedure for applying for the certificate of satisfaction of charges registered under companies act are as under. The company shall approach lender bank/financial institution to issue…

Effects of charge registration under companies act

The Section 2(16) of the Companies Act 2013 defines ‘Charge’ as “an interest or lien created on the property or assets of a company or any of its undertaking or both as security and includes mortgage”. Thus, ‘charge’ can be described as lender’s right to recover his dues by disposing-off the specified assets of the…