High Court of Judicature at Bombay Adjudicates Creditor's Application for Secured Creditor Status in Liquidation; Cooperative Bank's Claim Based on Unregistered Mortgage and Recovery Certificate Under Maharashtra Cooperative Societies Act, 1960. A Recovery Certificate ordering attachment and sale does not create a charge on company assets without registration under Section 125 of the Companies Act, 1956, and an unregistered mortgage is void against the Official Liquidator.
3 Jun 2019This matter arose in the winding up of Satwik Electric Controls Private Limited (the Company), ordered to be wound up on 19 July 2007. City Coop Credi...
