Bank granted Rs. 10,00,000/- under housing loan and obtained Registered Memorandum of Deposit of Title Deed (In the Deposit of Title Deed, it was mentioned that – the terms and conditions are applicable for the loan already sanctioned and/or for the loan to be sanctioned in future). Subsequently, housing loan amount was discharged. But, the Memorandum of Deposit of Title Deed was not discharged. Now, the bank wants to grant another Rs. 10,00,000/- under mortgage loan without obtaining registered Memorandum of Deposit of Title Deed, since already Registered Memorandum of Deposit of Title Deed is existing in favour of bank under the previous housing loan.
Note: (The subsequent loan of Rs10,00,000/- is not the enhanced limit but a fresh loan for the same amount for which Mortgage was already created when the first loan was taken)
Kindly suggest whether the subsequent amount of Rs. 10,00,000/- require registration or whether the bank can obtain affidavit or any other document stating that I already executed registered document in favour of bank for the previous mortgage and the said mortgage will be applicable to subsequent mortgage also.
Kindly suggest on the above aspect from the side of the bank and also with regard to the legal enforcement before the court of law.