satisfaction of charge

A Pvt company has taken loan from bank in 2005 and created charge. Loan amount has been repaid in year 2009 but letter of satisfaction is not obtained at that time and still charge is showing Outstanding on MCA Portal Now bank manager deny to issue the same even not in back date. Is there any alternative way to satisfy that charge...??

Is there any alternative way to satisfy that charge ????

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letter of satisfaction will be required, ask the concerned branch manager why bank has problem in issuing the letter, request them again in writing or else take matter before banking ombusman and latter file condonation of delay under Section 141.


Ok, Thank u Sir.


Try to obtain Satisfaction letter of current date.You have also to file form 17 to ROC within 60 days of satisfaction of charge.If letter is back dated more than 60 days then  you have a very long procedure to follow.


Prepare & fill form 17 in soft form  , attach charge satisfaction letter scan, get the Digital signature of the Bank , also put your Digital signature and hand over to you CA/Advocate/Company Secretary . He She will submit the form electronically.

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