Effects of Registration of Charge in India and procedural framework
The registration of a charge under the Companies Act, 2013 ensures legal validity and priority of lenders’ rights over a company’s assets. The process involves board approvals, proper documentation, filing with the Registrar of Companies (ROC), and issuance of a certificate of registration. Step-by-Step Procedure 1. Pass a Board Resolution * Convene a board meeting…
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Appropriation of Security under Banking Law
The phrase “Appropriation of Security”** has a specific meaning in banking and law. Let me explain it in a structured way for you: 📘 Meaning Appropriation of security refers to the right of a creditor (e.g., a bank) to apply or utilize the security provided by a debtor towards the repayment of a specific debt…
Read article Provisions of Companies Act 2013 Relating to Registration of Charges
The Companies Act 2013 mandates the registration of charges created by companies to ensure transparency and protect the interests of creditors. Provisions regarding this are outlined in Sections 77 to 87 of the Act Section 77: Duty to Register Charges Every company must register the particulars of any charge created over its property, assets, or…
Read article Acceptability of a certified copy of a document of title to immoveable property in India
In India, a certified copy of a document of title to immoveable property is generally acceptable as legal evidence when the original is lost or unavailable, provided it is issued by the concerned Sub-Registrar’s Office and follows the legal process under the Registration Act, 1908 Legal Basis for Acceptability A certified copy of title documents—including…
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Understanding a Document of Title to Immoveable Property
A Document of Title to Immoveable Property in India is a formal legal document that establishes and proves ownership of an asset like land, a building, or any immovable property. Essential Meaning A Document of Title (primarily called a Title Deed) is issued when property ownership is transferred through purchase, inheritance, gift, or other means.…
Understanding Charge in Relation to Securities
The term “charge” carries multiple meanings across disciplines. In law, physics, and finance, its interpretation changes with context. However, in the banking and securities domain, a charge has a very specific significance: it is a legal right granted by a borrower to a lender over assets as security for repayment of a loan. This concept…
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