...fasten on the subject of the charge within its reach and grasp. (Per Lord Macnaghten in Illingworth v. Houldswoth)1, Debentures may create a fixed or floating charge or both. When.... A-9 creating a fixed charge and all the clauses only provide for a floating charge. His further contention is that none of the clauses contemplated the payment of interest or the principal advanced..., appears for Mr. Ramam and raises a few more contentions, viz.,(i) Ex. A-9 had only created a floating charge but not a fixed charge, and therefore the only remedy of the plaintiffs was to...

...movable property to such creditor, as a security for financial assistance and includes floating charge and crystallisation of such charge into fixed charge on movable property. [Borrowed from Section 2(n) ...created by the deed of hypothecation is a floating charge or a fixed charge. Where a specific existing property is hypothecated what is created is a “fixed” charge. The floating ...said case dealt with a hypothecation deed creating a floating charge, whereas the case on hand related to a fixed charge and, therefore, the principle laid down in Duncans Agro (1996) 5 SCC 591 will not...

...on the date of debenture trust deed, no effective or valid mortgage was created in respect of those properties, and that the floating charge, if any, created would not amount to a fixed charge. The.... Debentures may be secured (1) by way of a specific charge or mortgage on particular property of the company, or (2) by way of a floating chrage; or (3) by both a specific and ...unencumbered without consulting the holders of the charge until an event happens on which the floating charge, according to its terms, "crystallises" i. E. Becomes a fixed charge. Before crystallisation of...

...also material to refer to the provisions relating to floating charge which reads thus :- "10(B). PROVISIONS RELATING TO FLOATING CHARGE (iii...demonstrated how its rights as exclusive charge holder under the provisions of SARFAESI Act and IBC would be entirely lost/defeated if Piramal Capital and/or Omkara Asset were to be considered as...Judge was of the opinion that permitting Piramal Capital or Omkara Asset to assert any right under the impugned mortgages which would in any manner impinge upon J.C. Flowers exclusive first charge...

...also material to refer to the provisions relating to floating charge which reads thus :- "10(B). PROVISIONS RELATING TO FLOATING CHARGE (iii...demonstrated how its rights as exclusive charge holder under the provisions of SARFAESI Act and IBC would be entirely lost/defeated if Piramal Capital and/or Omkara Asset were to be considered as...Judge was of the opinion that permitting Piramal Capital or Omkara Asset to assert any right under the impugned mortgages which would in any manner impinge upon J.C. Flowers exclusive first charge...

...the matter of M/s. G V Films Ltd. 9. Authority to the Board to sell, lease or dispose off or the creation by the on behalf of the Company of such fixed or floating ...means the charge over the deposit made by G.V. Films with the Bank dated on or around the date of this Agreement. Financing Documents means this Agreement and the Security Documents. Obligor means...each of the Borrower and G.V.Films. Security Documents means the Deposit Charge and any other guarantee or document creating, evidencing or acknowledging security in respect of any of the obligations and...

...leaves the company free to collect them and use the proceeds in the ordinary course of its business is a fixed charge or a floating charge.The company which granted the charge in ...include all charges on book debts whether floating or fixed. The thinking behind this was presumably that debts subject to a fixed charge are still shown as assets in the company's balance sheet as....11. Before the introduction of this legislation the expression "floating charge", though in common use, had no distinct meaning. It was not a legal term or term of art. Now, however, it became necessary to...

...which were being run by John & Company ; and that defendants first set utilised, consumed and otherwise dealt with the goods which were burdened with the floating charge from July 6, 1948, to April 13, 1949, when John & Co. ...also pleaded by the said defendants that the plaintiff had no floating or prior charge on any of their stocks, stores etc. nor could any such charge be claimed by him in law ; that the suit was..., proceed against the charged goods which were in the custody of the receivers for recovery of his dues but as no property on which he held a charge or on which his floating charge crystallised had...

...399 says:“… the property which is subject to the floating charge can be dealt with by the company without consulting the holder of the charge and may be sold, exchanged or otherwise dealt with in an...faintly suggested that there can be no floating charge over immoveable property of a company. The following statement, relating to the nature of a floating charge in Palmer's Company Law, Twentieth Edition, page 39...holders of debentures under any floating charge created by the Company, and be paid accordingly out of any property comprised in or subject to that charge.22. It is thus clear that the...

...Agro is that the said case dealt with a hypothecation deed creating a floating charge. Whereas the case on hand related to a fixed charge and therefore, the principle laid down in Duncan Agro will not apply. This c...charge. Where a specific existing property is hypothecated what is created is a ‘fixed’ charge. The floating charge refers to a charge created...Bank creating a floating charge, the stock-in-trade, held by the borrower as on the date of hypothecation may be sold or disposed of by the debtor without reference to the creditor. But as and when new...

...as under (page 75) : "In my opinion for the reasons I have given it is necessary that a debenture creating a charge whether floating or fixed..., whether floating or fixed over any immovable property, should be registered according to the provision of law laid down under Section 17 of t...to as "the Companies Act"). The deposits to the amount of Rs. 5,45,000 were secured by the creation of a floating' charge on the fixed assets of the assessee-company. The assessee-company...

..., whether fixed or floating, created in favour of the debentures: the High Court limited the priority to the property subject to the floating charge. The appellant seeks to restore the order of the...Subordinate Judge, the respondents to deprive him of his priority even in respect of the property subject to the floating charge. The company was formed in the year 1920 with a nominal...8th August 1928, which contained (a) a specific charge on certain immovable and other assets of the company, and (b) a floating charge on the test of its property and undertaking. In and after the year...

...appellant should prevail.10. The first question which called for our determination in this case was whether the mortgage or charge which was created in respect of the disputed business was a floating ...to crystallize into a fixed security.”12. Mr. Banerjee contended on behalf of the appellant that until a floating charge is crystallized, or until it becomes attached to the subject...matter of the charge, it has got no value. It is not possible for us to accept this proposition of law enunciated by Mr. Banerjee. A charge or mortgage of the present description may remain floating for...

...distinguish Duncan Agro is that the said case dealt with a hypothecation deed creating a floating charge. Whereas the case on hand related to a fixed charge and therefore, the principle laid down in Duncan Agro wil...charge. Where a specific existing property is hypothecated what is created is a 'fixed' charge. The floating charge refers to a...in favour of the Bank creating a floating charge, the stock-in-trade, held by the borrower as on the date of hypothecation may be sold or disposed of by the debtor without reference to the creditor...

...creating a charge whether floating or fixed over any immovable property should be registered according to the provisions of law laid down in s. 17 of the Registration Act, in addition to...debenture creating a charge, whether floating or fixed over any immovable property, should be registered according to the provision of law laid down under s. 17 of the Registration Act. ...'). The deposits to the amount of Rs. 5, 45, 000 were secured by the creation of floating charge on the fixed assets of the assessee-company. The assessee-company executed a second hypothecation...

...a hypothecation deed creating a floating charge, whereas the case on hand related to a fixed charge and therefore, the principle laid down in Duncan Agro will not apply. This contention is also...charge. Where a specific existing property is hypothecated what is created is a 'fixed' charge. The floating charge refers to a charge created...stock-in-trade in favour of the Bank creating a floating charge, the stock-in- trade, held by the borrower as on the date of hypothecation may be sold or disposed of by the debtor without...

...15.08.2018. As per the conditions item No.6 of ANNEXURE-2 the borrower has the option of switching over to a floating rate option or to continue with the fixed rate option after period of three years...and terms mentioned in this document. In condition No.6 it has been stated you have the option of switching over to a floating rate option or continue with the fixed rate after a period of three...years without any charge, which is valid during the entire period of loan. So as per this condition No.6 it is clear that option is given to the borrower to switch over to floating rate option or continue...

...once the maintenance is fixed and a charge declared, whether by a decree or otherwise, a floating charge over the property is created which crystallises month by month as each arrear falls due and where...available by reason of the charge created by the Court or the decree does not fall within the meaning of Section 100 CPC, that does not take away the jurisdiction of the Court to work out equities...facts of the case are: The petitioner herein filed the suit O.S No. 64 of 1970 for maintenance and obtained a decree dated 30-12-1971.4. Under the said decree a charge was created on plaint...

...future, created by a borrower in favour of a secured creditor, without delivery of possession of the movable property to such creditor, as a security for financial assistance and includes floating charge and crystallisation of such ...case dealt with a hypothecation deed creating a floating charge, whereas the case on hand related to a fixed charge and, therefore, the principle laid down in Duncans Agro will not apply. This contention is also wi...charge. Where a specific existing property is hypothecated what is created is a “fixed” charge. The floating charge refers to a charge created generally against the assets...

...opposite parties were to charge the interest at fixed rate of 9% per annum or at floating rate. The complainant applied for the loan vide loan application, (Ex.OP1/2). As per this document, rate of...opened under fixed ROI and updated in the system on 16.6.2015 as per sanctioned and converted into floating ROI instead of fixed. As such, EMI has been revised w.e.f. 16.6.2015 of Rs.5467/-. As per...complaint. The interest on the loan in question was not at fixed interest basis i.e. 9% per annum. The loan was at floating rate of interest. It is clear from the housing loan agreement dated 11.10.2006...