Skip to content

CA Intermediate · Corporate and Other Laws · Registration of Charges

Kaveri Foods Ltd repaid its loan to Canara Bank in full, and the charge on its godown was fully satisfied on 5 May. The company wishes to have the satisfaction recorded on the Registrar's records. By when must the company file intimation of satisfaction of charge?

The company must file intimation of satisfaction of the charge with the Registrar within 30 days of payment or satisfaction. If delayed, the Registrar may allow filing within a further 300 days on payment of additional fees.

  1. AWithin 30 days from the date of payment or satisfactionCorrect
  2. BWithin 60 days from the date of payment or satisfaction
  3. CWithin 90 days from the date of payment or satisfaction
  4. DWithin 6 months from the date of payment or satisfaction

Explanation

The company must give intimation of payment or satisfaction of the charge to the Registrar within 30 days from the date of such payment or satisfaction. If not filed, the Registrar may allow it within a further 300 days on payment of additional fees. The longer periods in other options have no basis for the initial filing.

Did you get it right without looking?

One question tells you little. A timed set on Registration of Charges shows your real accuracy, how long you take and where you lose marks.

Practise Registration of ChargesFree diagnostic mock

More Registration of Charges questions