Register of charges to be kept by Registrar& Powers of Registrar
Updated: Oct 4, 2022
1. Register of charges to be kept by Registrar (section 81)-
(1)The Registrar shall, in respect of every company, keep a register containing particulars of the charges registered under this Chapter in such form and such manner as may be prescribed.
(2) A register kept in pursuance of this section shall be open to inspection by any person on payment of such fees as may be prescribed for each inspection.
2. Power of Registrar to make entries of satisfaction and release in absence of intimation from company.
According to Section 83:
(1) The Registrar may, on evidence being given to his satisfaction concerning any registered charge,—
(a) that the debt for which the charge was given has been paid or satisfied in whole or in part; or
(b) that part of the property or undertaking charged has been released from the charge or has ceased to form part of the company’s property or undertaking, enter in the register of charges a memorandum of satisfaction in whole or in part, or of the fact that part of the property or undertaking has been released from the charge or has ceased to form part of the company’s property or undertaking, as the case may be, even though no intimation has been received by him from the company.
(2) The Registrar shall inform the affected parties within thirty days of making the entry in the register of charges kept under sub-section (1) of section 81.