Section 32(1) in Tamil Nadu Societies Registration Act, 1975
(1)Every mortgage or charge created on or after the date of commencement of this Act by a registered and charge to society and being either(a)mortgage or charge for the purpose of securing any issue of debentures ; or(b)a mortgage or charge on any immovable property wherever situate, or any interest therein, shall, so far as any security on the registered society's property or undertaking is hereby conferred, be void against the liquidator and any creditor of the registered society, unless the prescribed particulars of the mortgage or charge, together with the instrument, if any, by which the mortgage or charge is created or evidenced or a copy thereof verified in the prescribed manner, are filed with the Registrar for registration within such period as may be prescribed after the date of its creation by any person authorized in this behalf by such registered society and when a mortgage or charge becomes void under this subsection, the money secured thereby shall immediately become payable :Provided that-(i)in the case of a mortgage or charge created out of India and comprising solely property situate outside India the period prescribed under this sub-section shall be reckoned from the date on which the instrument or copy could, in due course of post and if despatched with the due diligence, have been received in India, and(ii)where the mortgage or charge is created in India but comprises property situate outside India, the instruments creating or purporting to create the mortgage or charge or a copy thereof verified in the prescribed manner may be filed for registration, notwithstanding that further proceedings may be necessary to make the mortgage or charge valid or effectual according to the law of the country in which the property is situate.
