https://www.taxtmi.com/caselaws?id=112078 Money advanced to help discharge an existing mortgage does not create subrogation by operation of law under section 92 of the Transfer of Property Act unless the mortgage is directly redeemed by the person claiming that right; where the company itself redeems the debt and no registered instrument creates contractual subrogation, no prior mortgagee rights arise. An alleged charge or modification over company property is ineffective against the liquidator and creditors unless duly registered under the Companies Act regime. A claimant who participated in representations that the property was free from encumbrance is also barred by estoppel from asserting an undisclosed prior charge against the later mortgagee bank. en-us Wed, 30 Jan 2008 00:00:00 +0530 Sat, 13 Dec 2014 17:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=112078 Money advanced to help discharge an existing mortgage does not create subrogation by operation of law under section 92 of the Transfer of Property Act unless the mortgage is directly redeemed by the person claiming that right; where the company itself redeems the debt and no registered instrument creates contractual subrogation, no prior mortgagee rights arise. An alleged charge or modification over company property is ineffective against the liquidator and creditors unless duly registered under the Companies Act regime. A claimant who participated in representations that the property was free from encumbrance is also barred by estoppel from asserting an undisclosed prior charge against the later mortgagee bank. Case-Laws Companies Law Wed, 30 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=112078