Charge with roc

One of my automobile dealer clients is availing "channel finance facility" from
leading private banks, The amount is secured by lien on vehicles purchased
through out of the channel finance amount. The vehicle are kept with the dealer.
The dealer has to pay the channel finance amount within stipulated periof i.e 60
days or on the date of sale of vehicle which ever is earlier.

My question is that charge with roc require to be register or not?