Section 28 in The Merchant Shipping (Registration of Indian Ships) Rules, 1960
28. Registration of Mortgages executed and Discharged by companies.
- Where a mortgage of a ship is executed or discharged by a company, the registrar shall not register the mortgage or enter the discharge unless it has also been registered with the Registrar of Companies under section 134 of the Companies Act, 1956 or, as the case may be, a memorandum of satisfaction has been entered in the register of charges under section 138 of that Act.
