Companies must notify the registrar when a registered charge is fully satisfied, prompting registrar notice and possible recording. Companies must notify the Registrar in the prescribed form of payment or full satisfaction of any registered charge; the Registrar may allow an extended intimation period on application and fee. The Registrar will notify the charge holder to show cause within up to fourteen days unless the intimation is signed by the holder. If no cause is shown a memorandum of satisfaction is entered in the register of charges and the company informed; if cause is shown a note of objection is recorded and the company informed. The Registrar retains independent power to make entries in the register of charges.
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Provisions expressly mentioned in the judgment/order text.
Companies must notify the registrar when a registered charge is fully satisfied, prompting registrar notice and possible recording.
Companies must notify the Registrar in the prescribed form of payment or full satisfaction of any registered charge; the Registrar may allow an extended intimation period on application and fee. The Registrar will notify the charge holder to show cause within up to fourteen days unless the intimation is signed by the holder. If no cause is shown a memorandum of satisfaction is entered in the register of charges and the company informed; if cause is shown a note of objection is recorded and the company informed. The Registrar retains independent power to make entries in the register of charges.
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