Companies Law Section 138: Registrar Must Notify Charge Holders of Satisfaction Within One Week to Avoid Delays.

Under section 138 of the Companies Law, when a company notifies the Registrar about the satisfaction of a charge, the Registrar must issue a notice to the charge holder within a specified time, not exceeding fourteen days, to confirm the satisfaction. Although deadlines exist for companies and charge holders to report and respond, respectively, there is no set timeline for the Registrar to issue these notices. To prevent delays in recording charge satisfaction, it has been decided that the Registrar should issue the notice within a week of receiving the company's intimation to ensure timely registration of the satisfaction memorandum.

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