Section 83: Power of Registrar to make entries of satisfaction and release in absence of intimation from company
This section allows the Registrar to update the register of charges without the company's input and requires him to notify affected parties within a certain timeframe.
The section, clause by clause
What the section says
In plain terms
(1)The Registrar may, on evidence being given to his satisfaction with respect to any registered charge,—
The Registrar can update the register of charges if satisfied that a debt has been paid or satisfied in whole or in part, or that part of the property has been released from the charge, even if the company has not informed him.
(1)(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, notwithstanding the fact that 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.
The Registrar must inform the affected parties within thirty days of making the entry in the register of charges.
The right-hand column is written from the section text, not quoted from it, and it has no legal force. Where the two differ, the left-hand column is the law.
Amendment notes
- 1. Omitted by Act 1 of 2018, s. 20, for certain words (w.e.f. 5-7-2018).
- 2. The Proviso ins. by s. 20, ibid. (w.e.f. 5-7-2018).
This section refers to
Referred to by
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Reproduced from the official India Code print for reference. Check the current text on India Code before you rely on it, and read the section alongside its Rules. Nothing here is legal advice.