109. Certain mortgages and charges to b void if not registered:-
Every mortgage or charge created after the commencement of this Act by a company and being cither—(a)a mortgage or charge for the purpose of securing any issue of debentures; or(b)a mortgage or charge on uncalled share capital of the company; or(c)a mortgage or charge on any immoveable property wherever situate, or any interest therein; or(d)a mortgage or charge on any book debts of the company; or(e)a floating charge on the undertaking or property of the company; shall, so far as any security on the company's property or undertaking is thereby conferred, be void against the liquidator and any creditor of the company, 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 in manner required by this Act within twenty-one days after the date of its creation, but without prejudice to any contract or obligation for repayment of the money thereby secured, and when a mortgage or charge becomes void under this section, the money secured thereby shall immediately become payable :Provided that,—(i)in the case of a mortgage or charge created out of British India, comprising solely property situate outside British In twenty-one days after the date on which" instrument or copy could, in due course post, and if despatched with due diligence have been received in British India be substituted for twenty-one days the date of the creation of the mortgage or charge, as the time within which particulars and instrument or copy are, be filed with the registrar; and(ii)where the mortgage or charge is created British India but comprises property 01 side British India, the instrument 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; and(iii)where a negotiable instrument has been given to secure the payment of any boo" debts of a company, the deposit of the instrument for the purpose of securing; an advance to the company shall not, for the purposes of this section, be treated as a mortgage or charge on those book debts; and(iv)the holding of debentures entitling the holder to a charge on immoveable property shall not be deemed to be an interest in immoveable property.
