BNP a company was engaged in manufacturing of spare parts of automobiles. It was found that there were certain types of security interests or debts secured against the company's assets. BNP entered into an asset financin

Section 87 of the Companies Act, 2013 read with Rule 12 of the Companies (Registration of Charges) Rules, 2014 stipulates that the Central Government on being satisfied that - the omission to give intimation to the Registrar of Companies of the payment or satisfaction of a charge, within the time required under Chapter VI; or the omission or misstatement of any particulars, in any filing previously made to the Registrar with respect to any such charge or modification thereof or with respect to any memorandum of satisfaction or other entry made in pursuance of section 82 or section 83, was accidental or due to inadvertence or some other sufficient cause or it is not of a nature to prejudice the position of creditors or shareholders of the company. The Central Government may on the application filed in Form No. CHG-8 by the company or any person interested on such terms and conditions as it deems just and expedient, direct that the time for the giving of intimation of payment or satisfaction shall be extended or, as the case may require, that the omission or misstatement shall be rectified. Other Cases requiring Rectification are: direct rectification of the omission or misstatement of any particulars, in any filing, previously recorded with the Registrar with respect to any charge or modification thereof, or with respect to any memorandum of satisfaction or other entry made in pursuance of section 82 or section 83. direct extension of time for satisfaction of charge, if such filing is not made within a period of three hundred days from the date of such payment or satisfaction.