Civil Procedure Code, 1908, Order 38, Rule 5 -- Attachment before judgment - Recovery suit - Defendant directed to furnish bank guarantee by way of security till disposal of case - However, defendant wants to furnish collateral security of equivalent value in lieu of bank guarantee - Since defendant is willing to deposit title of property owned by him worth of which is..........
Registration Act, 1908, Section 60, 62 -- Certificate of registration - Registered agreement for sale - Sale of flat - Defendant agreed to sell his flat to plaintiffs - Plaintiffs paid entire consideration agreed between parties as per agreement for sale - There is certificate by registering authority in terms of S.62 of the Act - Plaintiffs thus, cannot be deprived of..........
Transfer of Property Act, 1882, Section 58(f) -- Equitable mortgage - Can be created by deposit of either original title deed or certified copies or Photostat copies of title deeds - It is only the intention of parties which is prime factor to be considered...........
Civil Procedure Code, 1908, Order 13, Rule 4 -- Marking of document - Memorandum of deposit of title deeds - Validity of such document can be decided at the time of disposal of main suit - Question as to whether memorandum requires registration or not needs to be decided before document is admitted in evidence - Defendant permitted to agitate this aspect before trial Court..........
Registration Act, 1908, Section 17 -- Registration - Letter of confirmation deed confirming equitable mortgage - It is a letter of recording of concluded contract, evidencing past transaction, which does not require registration - Letter of confirmation deed and document of deposit of title deeds does not require registration...........
Recovery of Debts Due to Banks and Financial Institutions Act, 1993, Section 19, 25, 29, 31A, Income Tax Act, 1961, Rule 68B -- Second Sch. - Auction sale - Conducted after lapse of 8 years from issuance of recovery certificate - Rule 68B of Second Sch. to Income Tax Act clearly mandates that no sale of immovable property shall be made after expiry of 3 years from the end..........
Kerala Stamp Act, 1959, Article 15 -- Instrument - or deed cancelling a registered document `relating to deposit of title deeds' falls under Art.15 of schedule to the Act...........
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, Section 2(zb), 13(2), Transfer of Property Act, 1882, Section 58(f) -- Security agreement - Enforcement of security interest - In the instant case, guarantor deposited title deeds of suit properties with bank with intention of creating mortgage in favour of bank - Even,..........
Registration Act, 1908, Section 17, Transfer of Property Act, 1882, Section 58(f) -- Registration - Memorandum/letter acknowledging deposit of title deeds - If the memorandum is prepared merely to confirm/acknowledge the deposit of title deeds, registration is not required irrespective of point of time at which it is executed - However, if the memorandum creates rights and..........
Transfer of Property Act, 1882, Section 58(f) -- Mortgage by deposit of title deeds - In order to create mortgage by deposit of title deeds, all that is necessary is mere handing over of title deeds with the intend to create mortgage over property - No formal document is necessary...........