22. Payment of loans in cash to a debtor etc, to be made in the presence of the Sub-Registrar.
- Where a loan is advanced on a registered document the entire amount of the loan, or so much amount out of it as may be payable in cash at the time of execution of the debtor or his duly authorised agent in the presence of the Sub-Registrar who will register the document and the said Sub-Registrar shall make an endorsement to that effect on the document.Illustration. - The consideration for a mortgage bond for Rs. 5,000 is made up of the following sums:(i)Rs. 1,000 paid to the mortgagor long ago before the execution of the bond;(ii)Rs. 1,500 paid to him in cash at the time of the execution of the bond; and(iii)Rs. 2,500 to be paid to him in future as and when required by him. Only the second out of these three sums (namely, the sum of Rs. 1,500 to be paid at the time of the execution of the bond) shall be payable to mortgagor or his duly authorised agent in the presence of the Sub-Registrar who will register the document.
