Section 38 in The Orissa State Electricity (Supply) Rules, 1962
38. Transfer of mortgages and bonds not secured by trust deed.
(1)Mortgages 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 to which it relates.(2)The appropriate Registrar shall keep a register of transfers of mortgages 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 before the appropriate Registrar who shall cause entries to be made in the appropriate register of transfers of the date of such deed, the names, addresses and descriptions of the parties thereto and the number of the mortgage transferred thereby, and until such entries have been made neither the Board not the Registrar shall be in any manner responsible to the transferee [* * *] [Omitted vide Orissa Gazette Extraordinary No. 209/1962.].(3)On the registration of any transfer of a mortgage [* * *] [Omitted vide Orissa Gazette Extraordinary No. 209/1962.] not secured by a trust deed, the transferee, or his executors or administrators, shall be entitled to the full benefit of the original mortgage 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 any money secured thereby.
