Company law
This query is : Resolved
29 June 2012
is only registered charges can be collected by liquidator for liquidation purpose ?
CS Mitesh Mehta
(Expert)
29 June 2012
According to Section 125(1) a charge requiring registration is void against the liquidator and any creditor of the company if the particulars thereof are not filed into the Registrar of Companies.
Non-registration of a charge affects the security against the liquidator. It becomes unenforceable against the liquidator when the company is in winding-up. This means the liquidator in winding-up of the company would ignore the charge and treat the concerned creditor as unsecured creditor and the concerned property/assets as free from charge, not available to satisfy the debt of the concerned creditor.
Non-registration of a charge affects the security against the liquidator. It becomes unenforceable against the liquidator when the company is in winding-up. This means the liquidator in winding-up of the company would ignore the charge and treat the concerned creditor as unsecured creditor and the concerned property/assets as free from charge, not available to satisfy the debt of the concerned creditor.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
