You are appointed as the Secretarial Auditor of Shakti Foods Ltd., a NSE listed company for conducting Secretarial Audit for the financial year 2018-19. During the audit you found that the satisfaction of charges has not

When any company borrows any secured loan from any banks or financial institution and repays the same then it is termed as 'Satisfaction of Charge'. On repayment of loan it is mandatory to report Registrar of Companies (ROC) regarding satisfaction of charge in E Form CHG - 4 along with the prescribed fee. As per Section 83 read with the Companies (Registration of Charges) Rules, 2014- Satisfaction of Charge in E Form CHG - 4 should be filed within 30 days from the date of payment or complete satisfaction of charge. The fee payable in this case is normal applicable fee. Registrar enters a memorandum of satisfaction of charge in full, and shall issue a certificate of registration of satisfaction of charge in Form No.CHG-5. If the company fails to file E Form CHG - 4 within 30 days, the company may file the Form CHG-4 up to 300 days from the date of payment or such satisfaction of charge. The fee payable is normal fee + additional fee as prescribed. If the company fails to file E Form CHG-4 within 300 days the company may file Form CHG-8 beyond 300 days but the company is to pay the normal fee + additional fee + condonation fee for registration of the satisfaction of the charges.