Satisfaction of charge to be filed with ROC within 30 days from the date of satisfaction/payment of charge revising earlier clarification to the effect that period of 30 days to be counted from “date of issue of bank’s letter” - Companies Law - Circular : No. 10/91

Circular : No. 10/91 [F. No. 3/23/98 ‑ CL ‑ V], dated 26 ‑ 12 ‑ 1991 issued by the Department of Company Affairs. Subject:- Satisfaction of charge to be filed with ROC within 30 days from the date of satisfaction/payment of charge revising earlier clarification to the effect that period of 30 days to be counted from date of issue of bank s letter I am directed to say that as per Department s Letter No. 3(14)/17/78, dated 17‑8‑1978 [as corrected by Letter No. 8/10(15)/77, dated 20‑9-1978], it was clarified that the period of 30 days under section 138 of the Companies Act, in cases where banks are involved, will be counted from the date of issue of the bank s letter to companies intimating them about the satisfaction of charge under section 138. The matter has been re‑considered and it is felt that section 138 refers to the date of payment or satisfaction and there is no linkage to the date of the bank s letter. It is, therefore, clarified that satisfaction of charge under section 138 be filed with the Registrars of Companies within 30 days from the date of satisfaction/payment of charge.