https://www.taxtmi.com/caselaws?id=215980 An unregistered contractual charge is ordinarily void against the liquidator and creditors under section 125 of the Companies Act, 1956, but that rule does not apply where the security is created by, or merges into, a court order or decree. Here, the tribunal's order gave the claimant an enforceable right to recover and proceed against specified properties, so the earlier unregistered charge was treated as having merged into the order after the payment period expired. The claim could not therefore be rejected solely for non-registration, and the official liquidator was directed to reconsider the claims and distribution ratio under sections 529 and 529A. en-us Mon, 09 Jul 2012 00:00:00 +0530 Mon, 27 Aug 2012 18:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215980 An unregistered contractual charge is ordinarily void against the liquidator and creditors under section 125 of the Companies Act, 1956, but that rule does not apply where the security is created by, or merges into, a court order or decree. Here, the tribunal's order gave the claimant an enforceable right to recover and proceed against specified properties, so the earlier unregistered charge was treated as having merged into the order after the payment period expired. The claim could not therefore be rejected solely for non-registration, and the official liquidator was directed to reconsider the claims and distribution ratio under sections 529 and 529A. Case-Laws Companies Law Mon, 09 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215980