As defined in the Companies Act, 2013, ("Act") "charge" means an interest or lien created on the property or assets of a company or any of its undertakings or both as security and includes a mortgage.
Every Charge created by the Company is required to be registered with the ROC within a period of 30 days of creation of such charge.
Charge is created as security for loan or debentures or as security for some other purpose. If the amount of loan is repaid or debentures are fully paid or other purpose is fulfilled, there remains no necessity of the charge. This is called satisfaction of charge.
Every Charge satisfied by the Company is required to be intimated to the ROC within a period of 30 days of satisfaction of such charge.
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