https://www.taxtmi.com/caselaws?id=97858 A debenture creating or purporting to create a floating charge that, at its creation, embraces immoveable property falls within the Registration Act's ambit and must be registered under section 17(1)(b) to affect that immoveable property; registration under company law (general charge description) does not substitute for the Registration Act's local identification function, so non-registration renders the debenture ineffective against such immoveable property. By contrast, movable property is not subject to compulsory registration and the debenture holders remain secured as to movable assets; specific classification of items is remitted for factual determination. en-us Mon, 13 Mar 1961 00:00:00 +0530 Wed, 18 Jan 2012 13:18:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=97858 A debenture creating or purporting to create a floating charge that, at its creation, embraces immoveable property falls within the Registration Act's ambit and must be registered under section 17(1)(b) to affect that immoveable property; registration under company law (general charge description) does not substitute for the Registration Act's local identification function, so non-registration renders the debenture ineffective against such immoveable property. By contrast, movable property is not subject to compulsory registration and the debenture holders remain secured as to movable assets; specific classification of items is remitted for factual determination. Case-Laws Companies Law Mon, 13 Mar 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97858