Satisfaction of charge: company must notify registrar promptly; registrar may record memorandum of satisfaction after holder's chance to show cause. A company must give intimation to the Registrar in the prescribed form of payment or satisfaction in full of any registered charge within thirty days. The Registrar, on receipt, shall notify the charge holder to show cause within a specified period and, if no cause is shown, order that a memorandum of satisfaction be entered in the register of charges and inform the company; if cause is shown, the Registrar shall record a note and inform the company, without prejudice to other entry powers.
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Satisfaction of charge: company must notify registrar promptly; registrar may record memorandum of satisfaction after holder's chance to show cause.
A company must give intimation to the Registrar in the prescribed form of payment or satisfaction in full of any registered charge within thirty days. The Registrar, on receipt, shall notify the charge holder to show cause within a specified period and, if no cause is shown, order that a memorandum of satisfaction be entered in the register of charges and inform the company; if cause is shown, the Registrar shall record a note and inform the company, without prejudice to other entry powers.
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