Part V of the Companies Act 1956 contains provisions related to Registration of the charges (section 142 to 145). These contains provision of charge including mortgage, date of notice of charge, registration of charges, registration on case of debentures, certificate of registration, register of charges, inspection, penalties, etc.
These provisions prescribe for the registration of charges with the Registrar of the Company and also provide a list of assets and separate them from the unencumbered assets. Registration of charge acts as protection to the lenders and creditors, banks and liquidators. Register of charges is to be maintained by Registrar of Companies as well as the companies concerned. Companies Act 1956