Section 1
[Provided also that this section shall not apply to such charges as may be prescribed in consultation with the Reserve Bank of India.]
1 [Provided also that this section shall not apply to such charges as may be prescribed in consultation with the Reserve Bank of India.]
(2) Where a charge is registered with the Registrar under sub-section (1), he shall issue a certificate of registration of such charge in such form and in such manner as may be prescribed to the company and, as the case may be, to the person in whose favour the charge is created.
(3) Notwithstanding anything contained in any other law for the time being in force, no charge created by a company shall be taken into account by the liquidator 2 2 [appointed under this Act or the Insolvency and Bankruptcy Code, 2016 (31 of 2016), as the case may be,] or any other creditor unless it is duly registered under sub -section (1) and a certificate of registration of such charge is given by the Registrar under subsection (2).
(4) Nothing in sub-section (3) shall prejudice any contract or obligation for the repayment of the money secured by a charge.
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