Reporting Satisfaction of Charge (Section 82)

# Reporting Satisfaction of Charge (Section 82)

A charge does not disappear from the public register on its own. When the underlying debt is repaid (i.e., the charge is 'satisfied'), the company must actively notify the ROC so the register can reflect reality.

## 1. Time Limit for Intimation

• The company shall intimate satisfaction of a registered charge to the ROC in Form CHG-4 within 30 days from the date of payment or satisfaction.
• Special carve-out: For IFSC Private Ltd and IFSC Public Ltd companies, this period is 300 days, with additional fees applicable.

## 2. Extended Period

The Registrar may allow intimation within 300 days on application by the company or the charge-holder, on payment of additional fees.

## 3. ROC's Procedure on Receiving Intimation

1. The ROC sends a notice to the charge-holder requiring them to show cause within 14 days why payment or satisfaction in full should not be recorded.

2. If no cause is shown → ROC enters a memorandum of satisfaction in the register and informs the company.

3. No notice is required if Form CHG-4 is already signed by the charge-holder (since their consent is implicit).

4. If the charge-holder shows cause → ROC records that note in the register and informs the company.

## 4. Certificate of Satisfaction

When the ROC enters a memorandum of satisfaction in full, it issues a Certificate of Registration of Satisfaction of Charge in Form CHG-5.

## 5. Relationship with Section 83

Section 82(4) clarifies that the provisions of Section 82 do not restrict the ROC's powers under Section 83 to enter satisfaction on its own evidence, even without any intimation from the company.

## Quick Summary Table