Section 177, The Companies Act, 2009

If the Commission is satisfied with respect to any registeredcharge that– (a) the debt for which the charge was given has been paid or satisfied in whole or in part; or (b) part of the property or undertaking charged has been released from the charge or has ceased to form part of the company’s property or undertaking, it may enter on the register a memorandum of satisfaction to the extent necessary to give effect thereto and, where it enters a memorandum of satisfaction it shall, if required, furnish the company with a copy of the entry, and such entry shall have effect, subject to the requirement of any other enactment as to registration.