evidence.
The question next is whether it can be used
for collateral purpose.
Section 49 of the Registration Act, 1908
envisages:
"49. Effect ... Specific Relief Act,
1877 (3 of 1877) or as evidence of
any collateral transaction not required
to be effected by registered
instrument.
Presently, the instrument
twenty lakh only) without any collateral security can
be sanctioned. Copy of the said letter from State Bank of
India is annexed hereto and marked ... paid to
the International Management Institute, Kolkata. The Bank
asked for a collateral security in the form of a co-borrower, ready
and willing
Ganga Oil Agencies have offered the said property as collateral security. The said property is owned by Smt.Chinnammal, W/o Ganapathy Naicker. Smt.Chinnammal ... false claim of A2 and A3 that the property given as collateral security is owned by Kuttiammal. The said Kuttiammal has shown as an absconding
return
title documents deposited with them by the writ
petitioner as collateral security for loan availed by the
writ petitioner for purchase of said machineries ... under
the HP agreement. To be noted, this is a collateral
security besides hypotheca under the said HP
agreement.
5.To be noted, intriguingly
Ganga Oil Agencies have offered the said property as collateral security. The said property is owned by Smt.Chinnammal, W/o Ganapathy Naicker. Smt.Chinnammal ... false claim of A2 and A3 that the property given as collateral security is owned by Kuttiammal. The said Kuttiammal has shown as an absconding
boosted up the value
of the property offered by him as collateral security for sanction and
disbursement of loan ... such, he is not supposed to inspect the properties offered as
collateral securities along with the Field Officer of the bank. It is the
duty
have
boosted up the value of the property offered by them as
collateral security for sanction and disbursement of loan ... such, he is not supposed to inspect the properties offered as
collateral securities along with the Field Officer of the bank. It
is the duty
have boosted up the value
of the property offered by them as collateral security for sanction
and disbursement of loan ... showing inflated values of the properties
offered as collateral securities with a fraudulent and dishonest
intention of causing wrongful loss to the bank is absolutely
compulsorily
registerable, still, the Court can consider the said
document for collateral purpose. As such, the court
below has committed an error in not decreeing ... Specific Relief Act, 1877, or as
evidence of any collateral transaction not required
to be effected by registered instrument."
The proviso to Section
which was inadmissible in evidence could have been used for
any collateral purpose. In a suit for partition, an
unregistered document can be relied upon ... collateral
purpose i.e. severancy of title, nature of possession of
various shares but not for the primary purpose i.e. division
of joint properties
