Section 22 in The M.P. Electricity (Supply) Finance Rules, 1967
22. Transfer of mortgages and bonds not secured by trust deed.
(1)Mortgages and bonds not secured by a trust deed shall be transferred by an instrument in writing. Each such deed shall be duly stamped and shall state its date and the consideration for the transfer and may be endorsed on the mortgage or bond to which it relates.(2)The appropriate Register shall keep a register of transfers of mortgages or of bonds not secured by a trust deed, and as soon as may be after the date of every transfer, the deed of transfer shall be produced to the appropriate Register, who shall cause entries to be made in the appropriate register of transfer, the date of such deed, the names and addresses of the parties thereto and the number of the mortgage or bond transferred thereby and until such entries have been made neither the Board nor the Registrar shall be in any manner responsible to the transferee. A separate register of transfers of bonds, distinguished by a number or otherwise, shall be kept for such class of bonds not secured by a trust deed.(3)On the registration of any transfer of a mortgage or of a bond not secured by a trust deed, the transferee, or his executors or administrators, shall be entitled to the full benefit of the original mortgage or bond and the principal and interest secured thereby.(4)No person, except the last transferee registered as aforesaid, or his executors or administrators shall be entitled to transfer, release or discharge any such mortgage or bond or any money secured thereby.
