(e)[ English mortgage.-Where the mortgagor binds himself to repay the mortgage-money on a certain date, and transfer the mortgaged property absolutely to the mortgagee, but subject to a proviso that he will re-transfer it to the mortgagor upon payment of the mortgage-money as agreed, the transaction is called an English mortgage. [Clauses (e), (f) and (g) inserted by Act X of Samvat 1966.]
