morefully described in plaint schedule, with an intention to create an equitable mortgage. The cheque dated 30.04.1998 drawn on the Punjab National Bank ... collateral security. Such a security cannot be equated to an equitable mortgage, particularly as the property is not within the city limits of Chennai
appeal and decreeing the suit on the basis of the
equitable mortgage said to have been created by the defendants 1
to 3, the present ... title deeds in
favour of the plaintiffs on 30.10.1997 and created equitable
mortgage in respect of Door No.82. They have also executed
separate affidavits
documents of title by any debtor, there was no valid equitable mortgage
created by the letter, dated October 31, 1981. He also contended that ... also was framed which is as follows :
"Whether the alleged equitable mortgage by the eighth defendant is true, valid and binding
defendant and both also directors of
1st defendant] created equitable mortgage for Rs.33,75,000/- on
19.11.2010 by deposit of their title deeds dated ... deeds
given are not as security for the amount by creating equitable
mortgage, but to sell at the market value property covered
thereunder, and after
document required registration inasmuch as the same does not amount to equitable mortgage by deposit of title deeds. The letter which, according to the plaintiff ... created an equitable. mortgage in its favour reads as under :
"Herewith I append a fist of documents of title to my immovable properties which
against the mortgagors and the mortgagee for a declaration that the equitable mortgage on 1-4-1953 was sham, nominal and void and that ... contested by the mortgagee alone. The learned Subordinate Judge held that there was no valid and operative mortgage and no mortgage decree. Aggrieved by that
simple mortgage as also in the case of a mortgage by deposit of title deeds the loan taken against the mortgage involves a personal liability ... equitable mortgage must be held to be a mortgage where the mortgagor binds himself personally to pay the mortgage money and the mortgagee
further declaration that defendant Kanwaljit Singh has
not created any equitable mortgage of the above said
house with defendant No.1 and has not signed ... loan
agreement creating equitable mortgage of the above said
house with defendant no.1 and further defendant no.1
has got absolutely no right
deposited title deeds regarding his immovable properties with intention to create equitable mortgage.
3. Case of the Appellant is that the 3rd Respondent defaulted from ... deeds were deposited by the 3rd Respondent with intention to create equitable mortgage and therefore the claim was well within time. Upon consideration
without his knowledge and consent, the 1st respondent took an equitable mortgage of all the properties of the 2nd respondent for another debt and that ... appellant's liability was not wiped out by the equitable mortgage. He passed a decree against both the appellant and the 2nd respondent
