Section 83 of the Companies Act, 2013
Section 83 of the Companies Act, 2013 deals with "Power of Registrar to make entries of satisfaction and release in absence of intimation from company."
📘 Section 83 – Power of Registrar to Make Entries of Satisfaction and Release Without Intimation from Company
💡 Objective:
This section empowers the Registrar of Companies (RoC) to update the register of charges even if the company does not inform him, under certain conditions.
🧾 Main Provisions:
Registrar's Own Satisfaction:
If the Registrar has sufficient evidence that a charge has been satisfied in full or partly, or the property or asset has been released or no longer a charge,
and the company fails to inform as required under Section 82,
the Registrar can enter a memorandum of satisfaction in the register of charges on his own motion.
Notice to Company:
Before making such an entry, the Registrar must send a notice to the company and give it a 14-day period to respond or show cause why the satisfaction should not be recorded.
No Response = Entry Made:
If the company does not respond within 14 days, the Registrar may proceed to make the entry as if the company had informed it under Section 82.
⚖️ Purpose:
To ensure that the register of charges remains updated and does not depend entirely on the company’s action.
Prevents companies from delaying or avoiding disclosure of satisfaction or release of charges.
🔗 Related Section:
Section 82: Deals with the company’s duty to inform the Registrar when a charge is satisfied or released.
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