Charges Not Registered To Be Void against the Creditors (Section 276)

Section 276 – “Mortgages and charge created on the property and assets of the company shall be void against any creditor, including a liquidator, unless the particulars of the same are registered in the manner provided in section 274 – 275.”
Section 277 – “Nothing in section 276 shall prejudice any contract or obligation for the repayment of the money secured by the charge and When a charge becomes void under this section, the money secured thereby shall immediately become payable.”