Endorsement requirement on debentures: failure to attach registered charge certificate attracts penal liability and fine. Companies must endorse on every debenture or debenture-stock certificate a copy of the certificate of registration where payment is secured by the registered charge; this does not apply to securities issued before the charge was created. Delivery of a debenture or certificate required to bear the endorsed copy without such endorsement, where done knowingly or wilfully, attracts penal liability including a fine.
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.
Endorsement requirement on debentures: failure to attach registered charge certificate attracts penal liability and fine.
Companies must endorse on every debenture or debenture-stock certificate a copy of the certificate of registration where payment is secured by the registered charge; this does not apply to securities issued before the charge was created. Delivery of a debenture or certificate required to bear the endorsed copy without such endorsement, where done knowingly or wilfully, attracts penal liability including a fine.
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 
