Registration: Following are the particulars which are required to be filed with the Registrar of Companies in the event of the ‘pari passu’ clause being included in the debentures secured by the charge. This should be done within 30 days after the execution of the deal containing the charge and if there are no such deeds than after execution of debenture of the series:-
- The total amount secured by the whole series.
- The date of the resolution authorising the issue the series.
- The date of deed by which security is created.
- A detail description of the property charged.
- The name of the trustee for debenture holder alongwith the deed containing the charge or a certified copy of the deed and if there is no deed than a one of debenture of the series. [section 128]
If the debentures in the series are issued more than one, then the date and the amount of each issued must be filed with the Registrar of Companies. If it is omitted to do so will not after the validity of debenture issued.
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