Banking

Ritika singh (Querist) 07 December 2012 This query is : Resolved
i am a bank with equitable mortgage by title deeds of a property . the police want custody of it under sction 91 of crpc. plz advise whether giving the title will cease the equitable mortgage of the bank over the property ???? what is an alternate remedy to the bank ??

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ajay sethi (Expert) 07 December 2012
give certifed copy of title deeds

Guest (Expert) 07 December 2012
Agree with Shri Ajay Sethi.

Ritika singh (Querist) 07 December 2012
thank you for your respective answers. the problem is that the police want custody of the originals for verification of possibility of a forgery , in that case can a certified be of any relevance??

ajay sethi (Expert) 07 December 2012
if for invstigation of offence cops want custody of originals you can after informing the mortgagor in advance hand over the originals for investigation

Ritika singh (Querist) 07 December 2012
sir, is there any case law on it ??.....or a judicial precedent ???

Guest (Expert) 07 December 2012
Get the requisition in writing with specific reference of the FIR made with the police, keep on record a copy of the title deed duly certified by police. Handover the original deed to the police with a forwarding letter with specific mention that the transfer of deed to the police for the purpose of investigation would not extinguish the equitable mortgage with the bank against the (specific) loan.

Guest (Expert) 07 December 2012
About case law, the question is, what would you or your bank do with the case law, which can be taken in to conideration only by a court of law for the purpose of making any judgment on the already established precedent, but with similar circumstances of the case.

Police can requisition any original record for the purpose of proper investigation. You need only to take precautions of keeping your own record updated to avoid any problem in the future.