MCA had issued a circular dated 1/6/2011 wherein companies who were in default of filing their annual filings such as balance-sheet, annual return were debarred from filing any event related filings such as appointment of director, registration/ satisfaction of charges etc. This was a kind of arm twisting done by the MCA in order to ensure compliance by the companies. It worked!! Now looking at some general difficulties faced by stakeholders who have lent monies to the companies MCA has relaxed its stringent provisions by allowing filing of modification of charges under SARFEASI Act and satisfaction of charges. So it seems that where SARFEASI Act is not involved i.e. in general cases of modification of charges, this relaxation does not apply. How the form delineates that the charge is under SARFEASI or not remains to be seen. I suspect they will bring about changes in the form itself to provide for that. Copy of MCA circular can be seen here
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