https://www.taxtmi.com/caselaws?id=100652 An equitable mortgage may be established by deposit of title deeds where the surrounding documents and conduct show an intention to create security, even if the documents are not title deeds in the strict sense; the bank was therefore treated as a secured creditor over the charged assets. A secured creditor does not lose its security by participating in a winding-up sale and lodging a proof of debt, provided it expressly reserves rights to payment from the sale proceeds; there was no waiver or surrender of security on these facts. The exact amount due required further accounting, and the sale proceeds attributable to non-mortgaged land had to be segregated for separate treatment. en-us Thu, 09 Dec 1982 00:00:00 +0530 Fri, 03 Feb 2012 17:28:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=100652 An equitable mortgage may be established by deposit of title deeds where the surrounding documents and conduct show an intention to create security, even if the documents are not title deeds in the strict sense; the bank was therefore treated as a secured creditor over the charged assets. A secured creditor does not lose its security by participating in a winding-up sale and lodging a proof of debt, provided it expressly reserves rights to payment from the sale proceeds; there was no waiver or surrender of security on these facts. The exact amount due required further accounting, and the sale proceeds attributable to non-mortgaged land had to be segregated for separate treatment. Case-Laws Companies Law Thu, 09 Dec 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=100652