Section 79 of CA 2013 : Section 79: Section 77 To Apply In Certain Matters

Explanation using Example

Imagine a company, 'FutureTech Pvt. Ltd.', is interested in purchasing a new office building. The building, however, already has an existing mortgage (a type of charge) on it from a bank. According to Section 79 of The Companies Act, 2013, when FutureTech acquires this property, they must ensure that the mortgage is registered under the company's name, similar to the process described in Section 77 for the original registration of charges.

Furthermore, if at any point FutureTech decides to renegotiate the terms of the mortgage with the bank, such as changing the interest rate or repayment period, this modification must also be registered, reflecting the new terms of the charge as per the requirements of Section 79.