suit, O.S. No.
35 of 1993, for enforcement of the equitable mortgage.
The appellant resisted the suit by pleading that the suit
was barred ... vehicle to one
Fernandes, that there was no valid equitable mortgage
created and no amount could be recovered from him
based on it and that
CITATION:
1965 AIR 430 1964 SCR (6) 727
ACT:
Mortgage-Mortgage by deposit of title deeds--No document
executed on the day of deposit ... mortgage for money
already advanced and a deposit of deeds for the purpose of
preparing a mortgage, was, in itself, an equitable mortgage
by deposit
payment of the mortgage-money, the transaction is called
an usufructuary mortgage and the mortgagee an
usufructuary mortgagee.
(e) English mortgage.-Where the mortgagor binds ... Anomalous mortgage.-A mortgage which is not a
simple mortgage, a mortgage by conditional sale, an
usufructuary mortgage, an English mortgage or a
mortgage
property, according to the plaintiff, with intent to create an equitable mortgage of the property covered by the title deed for repayment of the moneys ... plaint alleges that the letter dated 1-7-1980 creating equitable mortgage and the memorandum accompanying the deposit of title deeds together with the title
amount so lent would be deducted from their salary and
(b) equitable mortgage of the proposed land to be executed. Based on these
conditions ... alleged that
there was no transfer of land, hence, no equitable mortgage was created,
putting the bank to a loss
defendant brought the title deeds with a view
to create an equitable mortgage. He gave the title deeds to the father. The title deeds were ... defendant No. 1 and at that moment the creation of equitable mortgage by deposit of title deeds was complete. Then the letter
statement has pleaded that the Defendant No. 1 had created an equitable mortgage in their favour in respect of the suit property for certain credit ... bound by the alleged mortgage also that necessary particulars of such equitable mortgage have not been disclosed.
6. Defendant No. 1 in his written statement
plaint schedule with intent to create an equitable mortgage for the amounts drawn on various counts.
6. In the course of their business, 1st defendant ... properties with intent to give security and created an equitable mortgage in favour of the plaintiff-Bank in respect of the properties covered
between a simple mortgagee under Indian Law and a legal mortgagee under English Law exists between a simple mortgagee and an equitable mortgagee ... recover money due on the equitable mortgage, to appoint a Receiver over the mortgage property. An equitable mortgagee in India has no right to possession
father had created an equitable mortgage over the attached properties in his favour by depositing title deeds and that the decree-holder should bring ... properties to sale only subject to the equitable mortgage.
3. In both the suits, the defences were that the alleged deposit of Stridhana amount
