MANOJ HARIT (LAWYER) 14 December 2010

MORTGAGE DEED

DEAR EXPERTS,

PLEASE ADVISE ABOUT THE FOLLOWING -

A PARTNERSHIP FIRM HAS EXECUTED A MORTGAGE DEED AT THE REGISTRAR'S OFFICE IN MAHARASHTRA FOR CREATION OF SECOND CHARGE TO A BANK. THE FIRST CHARGE OVER THE FIXED ASSETS IS HELD BY ANOTHER BANK. THE FIRST CHARGE HOLDER BANK HAS NOT BEEN MADE PARTY TO THIS MORTGAGE DEED. IS THE MORTGAGE VALID?

FURTHER THE REGISTRAR HAS MENTIONED THE AMOUNT OF CHARGE CREATED AS RS - 0/- (RUPEES ZERO ONLY). WILL THIS DOCUMENT BE ENFORCEABLE IN COURT OF LAW?

REGARDS,

MANOJ HARIT

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Adv. Gulammayudin A. Gagdani (LEGAL ADVISOR) 15 December 2010

well if at all charge created first per mission should be taken from the bank having first charge on the property.

Then to register actual amount of charge.

well in case of dispute the document will be enforceable as on the base of the mortgage deed, it is clear some transaction is been done alongwith other documents of bank. it will be enforceable.

Regards,