Registration and Satisfaction of Charges
Vayu Logistics Limited, an Indian unlisted public company, created a charge on its fleet of commercial vehicles in favour of Zenith Bank on 10th January 2025 to secure a loan of Rs. 50 lakhs. Due to an administrative oversight, the company failed to file the particulars of the charge in Form CHG-1 with the Registrar of Companies (ROC) within the standard period of 30 days from the date of creation. The delay was unintentional and without any fraud. On 25th February 2025, the company's CS noticed the lapse and moved an application for registration. Later, on 15th April 2025, Vayu Logistics fully repaid the loan to Zenith Bank. The bank issued a letter confirming full satisfaction of the debt on 20th April 2025. However, the company delayed filing Form CHG-4 for satisfaction of charge with the ROC until 10th August 2025.


