575. VESTING OF PROPERTY ON REGISTRATION

All property, movable and immovable (including actionable claims), belonging to or vested in a company at the date of its registration in pursuance of this Part, shall, on such registration, pass to and vest in the company as incorporate under this Act for all the estate and interest of the company therein. company. As the vesting of property is under statutory provisions, no instrument of transfer is necessary therefor. If the constitution of the partnership firm is changed into that of a company by registering it under Part IX of this Act, there shall be statutory vesting of the title of all the property of the previous firm in the newly incorporated company without any need for a separate conveyance - Vali Pattabhirama Rao v. Sri Ramanuja Ginning & Rice Factory (P) Ltd. (1986) 60 Comp. Cas. 568 (AP).