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CS Executive · Company Law and Practice · Charges

Kaveri Textiles Ltd missed the thirty-day window for intimating satisfaction of a charge held by a bank. The default was only inadvertent. The company or the charge holder applies to the Registrar. What is the maximum period from the date of payment within which the Registrar may allow the intimation to be made, on payment of additional fees?

The Registrar may allow the intimation within three hundred days of the payment or satisfaction, on application by the company or the charge holder and payment of the additional prescribed fees. Beyond that, relief would have to be sought from the Central Government.

  1. ANinety days
  2. BOne hundred and eighty days
  3. CThree hundred daysCorrect
  4. DThree hundred and sixty-five days

Explanation

The proviso to section 82(1) lets the Registrar, on application by the company or the charge holder, allow intimation within three hundred days of payment or satisfaction on payment of additional prescribed fees. The other periods are not stated in the section.

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