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49. The IO held the first part of the Article of Charge, regarding failure, on the part of the petitioner, to obtain the complete chain of title deeds in respect of the mortgaged or immovable properties, to be proved, but the second part of the Article of Charge, pertaining to failure to obtain affidavits in respect of seven accounts, not to be proved.

50. Apropos the first part of the Article of charge, the IO noted that the applicable instructions required the Branch Manager/Chief Manager/Assistant General Manager to satisfy himself, by examining the title deeds, that the title deeds were prima facie in order and to ascertain that the property was unencumbered. In the case of incomplete chain of title deeds, the instructions required the intending mortgagor to supply a copy of the missing documents, as certified by the Registrar, as well as the reasons for his failure to provide the original. As such, obtaining the complete chain of title deeds, in respect of immovable property to be mortgaged against grant of housing loans was, it was found, mandatory. As against this, in respect of eight of the borrowers in the said in Annexure A to the charge-sheet, the petitioner had obtained only sale deeds. In respect of the ninth borrower, the petitioner had obtained the sale deed and a copy of the Revenue Record. In the case of the remaining two borrowers, the petitioner had obtained the registered sale deed, and This is a digitally signed Judgement.

- the applicable instructions required intending mortgagor to supply a copy of the missing documents, as certified by the Registrar, adduce the reason for not being able to provide the original. The complete chain of title deeds, it was observed, had not been obtained by the petitioner in respect of any one of the borrowers forming subject matter of the charge. The IO also found the contention, of the petitioner, that a complete chain of title deeds was not required where the colonies had been converted from agricultural land, not to be borne out by the instructions issued by the Bank. Ms Chatterjee has not been able to draw my attention to any instruction, which did away with the requirement of obtaining complete chain of title deeds, where the colonies were converted from agricultural land. The submission, of Ms. Chatterjee that the IO had altered the charge in the Articles of charge is without substance, as the IO was dealing with the defence put forward by the petitioner, in respect of which he found that the petitioner had not provided any document issued by the Municipal authorities which provided full and legitimate title to the owners. Again, these findings cannot be interfered with, by this Court, in exercise of its jurisdiction under Article 226 of the Constitution of India.