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Charges - Sec 87
Corporate & Other Laws
1. Whether a company can file CHG-8, if company didn't register the creation or modification of charge within the extended time limit? 2. If Registrar on the own registers satisfaction of charge it will be covered under Sec.83 and if the company applies for intimating satisfaction of charge after prescribed time limit, it will be covered under Sec 87. Whether my understanding is correct?
Answers (3)
CA YOGITA HARJANI Faculty
1. No 2. Yes
Ma'am, but in question 6, company didn't register the modification of charge and in answer it is giving that the company can file CHG-8. And in question 7, neither the company nor charge holder intimated about satisfaction of charge and in answer they have mentioned about the rights of registrar to register on its own.
Both questions are practical in nature. Q 6: Company has failed to register modification so the only option it has is to make rectification to the details of registration of charge by filing form Chg - 8. Here form chg-8 is not filed to condone delay in registering the modification. In fact it is for rectification of details of registration of charge. Q 7 : In this you can mention about section 87 and application for condonation of delay in registering the satisfaction of charge. Along with that you can also state that on request from Ranjeet, ROC can use its power under section 83.
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