Section 82 of the Companies Act, 2013
Section 82 of the Companies Act, 2013 deals with the "Company to Report Satisfaction of Charge."
🔹 Section 82 – Company to Report Satisfaction of Charge
When a company repays or satisfies the full amount of a charge (i.e., a loan or debt secured against assets):
Time Limit to Intimate ROC:
The company must inform the Registrar of Companies (ROC) in Form CHG-4 within 30 days from the date of satisfaction of charge.
Registrar’s Role:
The ROC, after verifying the evidence filed, shall enter a memorandum of satisfaction in the register of charges and give a certificate of satisfaction.
Extension of Time:
If the company fails to file within 30 days, the ROC may allow filing up to 300 days from the date of satisfaction on payment of additional fees.
Beyond 300 days, filing is allowed only with approval of the Central Government (via Regional Director).
🔸 Purpose of Section 82:
To maintain an accurate record of a company’s financial obligations.
To ensure that creditors, investors, and the public have updated information about a company's encumbered and unencumbered assets.
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