Mortgage of properties by deposit of title deeds

murugesh iyer (Querist) 17 July 2013 This query is : Resolved
Dear Sir,

My Company is creating a fresh mortgage by deposit of title deeds with one of the bank for availing working capital facilities. For this the bank is executing the Memorandum of Entry with declarations from Directors.

Once the charge is created, whether we can add more banks to the above bank with pari-passu charge for availing further facilities from other banks by modification of existing above charge which was created.

It is not a consortium, but it will be multiply banking facility.

Kindly advise me on this.

regards,

murugesh iyer
mobile 9920074529
email : murugesh7@hotmail.com

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