Legal Question in Banking Law in India
Whether mortgages created by a company which are not registered with ROC are void and unenforceable?
Asked on 10/28/11, 2:47 am
1 Answer from Attorneys
Eashwar Prasad
Gururaj Joshi & Co.,
As per Sec.125 of Companies Act, such charges are not binding upon the official liquidator/other creditors, but, it is binding upon the company creating the charge
Answered on 10/28/11, 2:49 am
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