What are the Consequences of Non-Registration?

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1.A charge which is compulsorily registarble but which is not registered is void. This does not mean that the creditors cannot recover their dues. It merely means that the benefit of the charged security will not be available to them. 2.Although the security becomes void by non-registration, it does not affect the contract or obligation… Read more »

What are the consequences of non-registration?

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An illegal association is not recognised by law. An illegal association cannot enter into any contract, cannot sue any members or any outsider, cannot be sued by any members or outsiders for any of its debts. The members of the illegal association are personally for the obligations of the illegal association. A member may be… Read more »