https://www.taxtmi.com/caselaws?id=97858 A debenture creating a floating charge over immovable property already owned by a company is treated as a registrable instrument under the Registration Act, because registration under the Companies Act does not displace the mandatory requirement for registration of a non-testamentary instrument affecting immovable property. Where such registration is absent, the charge is ineffective against the company's immovable property under section 49. The text also notes that movable property is not subject to the same compulsory registration requirement, so debenture holders may retain secured status in respect of movable assets, subject to classification of the property on remand. 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 a floating charge over immovable property already owned by a company is treated as a registrable instrument under the Registration Act, because registration under the Companies Act does not displace the mandatory requirement for registration of a non-testamentary instrument affecting immovable property. Where such registration is absent, the charge is ineffective against the company's immovable property under section 49. The text also notes that movable property is not subject to the same compulsory registration requirement, so debenture holders may retain secured status in respect of movable assets, subject to classification of the property on remand. Case-Laws Companies Law Mon, 13 Mar 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=97858