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XLtd. created a charge on its asset on 1st March but delayed registration. On 10th March, Buyer B, acting in good faith, purchased the asset. The Registrar approved the late registration of the charge on 15th March. According to Section 77(1) of the Companies Act, 2013, which of the following statements reflects the correct legal status of the parties?
The buyer's completed purchase remains voidable at the solitary option of the charge-holder
The charge-holder's registered rights are completely invalidated by the buyer's prior purchase
The buyer's prior acquired rights are completely protected against the late charge registration
The charge-holder's registered rights retrospectively override the buyer's ownership interest
The buyer's prior acquired rights are completely protected against the late charge registration
Practice and solve "XLtd. created a charge on its asset on 1st March but delayed registration. On 10th March, Buyer B, a..." for Part 5 Domain Knowledge - CIL MT Company Secretary 2026. The correct answer is Option C: The buyer's prior acquired rights are completely protected against the late charge registration. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.
Practice and solve "XLtd. created a charge on its asset on 1st March but delayed registration. On 10th March, Buyer B, a..." for Part 5 Domain Knowledge - CIL MT Company Secretary 2026. The correct answer is Option C: The buyer's prior acquired rights are completely protected against the late charge registration. Detailed step-by-step solution, conceptual clarity, and formulas on Examoogle.
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