Charges - Satisfaction of ‑ Original loan merged in secured loan of higher amount ‑ Which form is required to be filed - Companies Law - Letter : No. 8/15(135)/67‑CL‑V,

Letter : No. 8/15(135)/67 ‑ CL ‑ V, dated 18 ‑ 5 ‑ 1965. Subject:- Charges - Satisfaction of ‑ Original loan merged in secured loan of higher amount ‑ Which form is required to be filed Query : Which form is required to be filed with the Registrar when the original loan taken on the mortgage of machinery is merged in subsequent loan of higher amount from the same party and with a stipulation in the latter agreement that the earlier charge stood suspended/extinguished ? Answer : In cases of this type, it seems that the original charge stands suspended/ extinguished consequent on its merger with the new charge. There should, therefore, be no objection to permit, in such cases, the company to file Form No. 17 pursuant to section 138 in lieu of Form No. 141 provided the lender has no objection to the satisfaction of the new document as a fresh charge.