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charges doubt_URGENT

Mayuri Lal (officer CS) (748 Points)

01 November 2010

Dear Members,

There is this private limited Company...and it has charges on various properties..and in total there is this charge of 8 crores ...and with movable n immovable properties are charged agaist 8 crores..now from that 2 crores charge is satisfied and the one of the property is released now... and this propery is now charged in other bank and form 8 is filed for it...

so do i need to do anything further, bkoz form 17 is satisfaction in full.. but only 2 crore satisfied here.. so the R.O.C mite oject that that thsi proprty is charged in other bank as well..

Then wat shud be done...please help

Regards,

CS Mayuri LAl

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5 Replies

CS Ankur Srivastava (Company Secretary & Compliance Officer) (17853 Points)
Replied 01 November 2010

Form 17 is only to be file when the Charge is satisfied in full. For partially satisfaction there is no need to file form 17.

There is no problem, just form form 8 for another charge. I dont think that there would be any problem.

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NIRALI SOLANKI (JOINT MANAGER LEGAL & SECRETARIAL) (87 Points)
Replied 01 November 2010

Dear Friend,

I think you must also file Form 8 for the modification of the previous charge so as to the relese of property of Rs. 2 Cr., and you may also take NOC against this property of Rs.2 Cr.

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