Registration of security charges required to preserve priority; unregistered charges are void against liquidator and creditors. Registration of company charges is mandatory for security-conferring charges: they are void against the liquidator and creditors unless prescribed particulars and the instrument (or verified copy) are filed with the Registrar within thirty days, subject to a discretionary delayed filing with additional fee. Non-registration does not affect the repayment contract but makes the secured money immediately payable. Section 125 lists specific charge types and sets special filing rules for charges involving property situated outside India.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Registration of security charges required to preserve priority; unregistered charges are void against liquidator and creditors.
Registration of company charges is mandatory for security-conferring charges: they are void against the liquidator and creditors unless prescribed particulars and the instrument (or verified copy) are filed with the Registrar within thirty days, subject to a discretionary delayed filing with additional fee. Non-registration does not affect the repayment contract but makes the secured money immediately payable. Section 125 lists specific charge types and sets special filing rules for charges involving property situated outside India.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
