https://www.taxtmi.com/caselaws?id=359432 The High Court held that the petitioner-Bank's mortgage claim based on the deposit of title deeds was valid, despite the absence of a registered mortgage deed. The Court ruled in favor of the petitioner, affirming their rights as a secured creditor over the property in question. The respondent's attempt to sell the property for recovery was deemed unsustainable, and the petitioner's priority as a mortgagee was upheld. The judgment quashed the respondent's orders and directed any excess sale proceeds to be deposited with the respondent. The parties were given liberty to identify alternative properties for recovery. en-us Mon, 16 Oct 2017 00:00:00 +0530 Mon, 30 Apr 2018 10:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359432 The High Court held that the petitioner-Bank's mortgage claim based on the deposit of title deeds was valid, despite the absence of a registered mortgage deed. The Court ruled in favor of the petitioner, affirming their rights as a secured creditor over the property in question. The respondent's attempt to sell the property for recovery was deemed unsustainable, and the petitioner's priority as a mortgagee was upheld. The judgment quashed the respondent's orders and directed any excess sale proceeds to be deposited with the respondent. The parties were given liberty to identify alternative properties for recovery. Case-Laws Customs Mon, 16 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359432