Charge creation on bank guarantee

A charge is required to be registered if it is covered under any of the types mentioned in Sec.125(4) of Companies Act 1956.  In case of Bank guarantee normally counter-guarantee is given to the Bank and in that case it is not required to be registered since no charge is created on company's property.  However, if hypothecation agreement covers bank guarantee also, in that case charge will have to be filed with ROC.  Different banks follow different practice in this regard.