Registration of charge

Dear Professionals

Under the Companies act,2013, is it mandatory to register a charge for hypothecation of a car or any other vehicle.Plz share ur views.Plz guide me as it is very urgent

 

Thanks

Replies (4)

Yes, it is mandatory u/s 77.

 

Thanks Sir bt plz clarify as i think it is not specifically mentioned in the section & as per the draft rules,2013 it is mentioned that 

Rule 6.1(3)  No charge by way of hypothecation of a motor vehicle shall require registration unless the financier so requires.

needs ur valuable opinion

Thanks

We have final rules now and draft rule is not relevant now.  Pl refer attached article on the subject.

 

Thanks

 

Thanks sir

 

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