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RK MEHTA (DEPUTY GENERAL MANAGER - LEGAL)     02 August 2011

Equitable mortgage

We purchased properties in West Bengal. It turned out later that some of these were mortgaged to bank by way of equitable mortgage. The bank issued notice for auction of the mortgaged properties against which we got stay from the local court. In this regard kindly throw light on the following queries:

  1. Can equitable mortgage by deposit of title deeds be validly created in the State of West Bengal??
  2. The Party had deposited with the Bank the sale deed relating to different properties. However, they claim motgage of only some of those properties was created and not of the others??? Is this stand legally tenable???


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