82. Company to report satisfaction of charge
(1) A company shall give intimation to the Registrar in the prescribed form, of the
payment or satisfaction in full of any charge registered under this Chapter within a period of
thirty days from the date of such payment or satisfaction and the provisions of sub-section
(1) of section 77 shall, as far as may be, apply to an intimation given under this section.
(2) The Registrar shall, on receipt of intimation under sub-section (1), cause a notice to
be sent to the holder of the charge calling upon him to show cause within such time not
exceeding fourteen days, as may be specified in such notice, as to why payment or satisfaction
in full should not be recorded as intimated to the Registrar, and if no cause is shown, by such
holder of the charge, the Registrar shall order that a memorandum of satisfaction shall be
entered in the register of charges kept by him under section 81 and shall inform the company
that he has done so:
Provided that the notice referred to in this sub-section shall not be required to be sent,
in case the intimation to the Registrar in this regard is in the specified form and signed by the
holder of charge.
(3) If any cause is shown, the Registrar shall record a note to that effect in the register
of charges and shall inform the company.
(4) Nothing in this section shall be deemed to affect the powers of the Registrar to
make an entry in the register of charges under section 83 or otherwise than on receipt of an
intimation from the company.