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Specimen Board Resolution to take note of the satisfaction or release of charge

CERTIFIED TRUE COPY OF THE RESOLUTION PASSED AT THE MEETING OF THE BOARD OF DIRECTORS OF [COMPANY NAME] HELD ON [DATE] AT [TIME] AT THE REGISTERED OFFICE OF THE COMPANY.

ITEM: SATISFACTION OF CHARGE IN FAVOUR OF ABC BANK OF INDIA

"RESOLVED THAT pursuant to the provisions of Section 82 and other applicable provisions of the Companies Act, 2013, read with Rule 8 of the Companies (Registration of Charges) Rules, 2014, the Board of Directors hereby takes note of the Letter of Satisfaction / No Due Certificate dated [Date] received from ABC BANK of India (the "Bank"), [Branch Name], confirming the full repayment of credit facilities and the discharge of the following charge(s):

• Charge ID: [Number]
• Date of Creation: [Date]
• Amount: Rs. [Amount]

RESOLVED FURTHER THAT the Bank be and is hereby requested to release and return the Original Title Deeds of the Company’s property situated at [Full Address of Property], which were deposited/mortgaged with the Bank as security for the said financial assistance.

RESOLVED FURTHER THAT the Company do file Form CHG-4 (Memorandum of Satisfaction) with the Registrar of Companies (ROC) within the statutory period of 30 days from the date of such satisfaction/discharge.

RESOLVED FURTHER THAT Mr. [Name], Director, and Mr. [Name], Company Secretary, be and are hereby severally authorized to sign, execute, and file the necessary electronic forms and documents with the ROC, and to do all such acts, deeds, and things as may be necessary, incidental, or ancillary to give effect to the satisfaction of the said charge in the records of the Ministry of Corporate Affairs.

RESOLVED FURTHER THAT a certified true copy of this resolution be forwarded to the Bank for their information and record."