Court : Karnataka
..... and mortgagor has to file redemption suit within 30 years from the date of the execution of the mortgage - transfer of property act, 1882 - ss. 58(d), 60 and 62." ?? in para 13 of the judgment, the supreme court observed as follows:- "13. article 148 of the limitation act, ' 1908 (referred to ..... and the instrument (if any) by which the transfer is effected is called a mortgage- deed. " 20. there are various types of mortgage viz., simple mortgage, mortgage by conditional sale, usufructuary mortgage, english mortgage, mortgage by deposit of title deeds, anomalous mortgage. but we are concerned with usufructuary mortgage. 21. section 58(d) of the transfer of property act defines usufructuary mortgage as under: "usufructuary mortgage:- where the mortgagor delivers possession :(or expressly or ..... by implication binds himself to deliver possession) of the mortgaged property to the mortgagee, and authorises him .....Tag this Judgment!
Court : Delhi
..... the firm in the name and style of m/s durah machines private ltd. and whereas the said ms. reena bhatia, without redeeming the mortgage transferred the property in favour of sh. satish w.p.(c) 992/2015 page 8 zulka, by way of sale deed. and whereas the said sh. satish zulka ..... on one hand, and the bank, on the w.p.(c) 992/2015 page 14 other. the said settlement resulted in release of one of the mortgaged properties belonging to ms. reena bhatia who had participated in the process of settlement with mr. satish julka only to get the said third party relieved of the ..... the other had been understood by all concerned as w.p.(c) 992/2015 page 10 a settlement restricted to the release only of one of the mortgaged properties.19. the reserve bank of india (rbi) is empowered by the conjoint effect of the provisions of reserve bank of india act, 1934 and banking ..... outstanding liability towards the bank which was prosecuting the matter through oa before the competent forum; he also indicated in the proposal that the bank had several properties mortgaged besides the hypothecation of plant & machinery (to take care of remainder of its claim); and that the approval by the bank of the proposal for settlement ..... petitioners in accordance with law, the compromise involving the receipt of ?110 lacs in march, 2007 to be treated as compromise only for release of one mortgaged property and not as ots of the entire dues.4. it is necessary to go into the history of this litigation at some length.5. the first .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR2007SC3169; 2007(6)ALD53(SC); 2007(4)AWC4011(SC); (2007)5CompLJ98(SC); (2007)8SCC361
..... it should be heard by a larger bench. we may, however, make some general observations. section 58 of the transfer of property reads as under:section 58 - 'mortgage', 'mortgagor', 'mortgagee', 'mortgage-money' and 'mortgage-deed' defined (a) a mortgage is the transfer of an interest in specific immoveable property for the purpose of securing the payment of money advanced or to be advanced by way of loan, an ..... deed in terms whereof the mortgagee obtained title by reason of a registered deed can be a subject- matter of mortgage. section 58 of the transfer of property act does not speak of mortgage of an owner's interest. if any interest in property can be created by reason of a transaction or otherwise which does not require registration, in our opinion, it may ..... reddy and ors. : 6scr727 , this court held:10. the foregoing discussion may be summarized thus: under the transfer of property act a mortgage by deposit of title deeds is one of the forms of mortgages whereunder there is a transfer of interest in specific immovable property for the purpose of securing payment of money advanced or to be advanced by way of loan. therefore, such ..... of title, stating:13. the only question, in these circumstances, is whether, by depositing exs. a.23 to a.26 a valid equitable mortgage was created in favour of the plaintiff. section 58 of the transfer of property act inter alia provides that where a person in any of the towns mentioned therein delivers to a creditor or his agent documents of .....Tag this Judgment!
Court : Supreme Court of India
Reported in : AIR2006SC3359; 2007(1)ALD20(SC); 2006(4)AWC3644(SC); 2006(4)CTC766; [2007(1)JCR87(SC)]; JT2006(8)SC158; 2007(1)MhLj893; 2007(I)OLR(SC)196; 2006(8)SCALE515; (2006)8SCC322
..... on condition that on such payment being made the sale shall become void, or on condition that on such payment being made the buyer shall transfer the property to the seller. 9. a distinction exists between a mortgage by way of conditional sale and a sale with condition of purchase. in the former the debt subsists and a right to redeem remains with ..... one. 8. before we consider the stipulations contained in the deed dated 30.12.1968, it may be noticed that in terms of section 58(c) of the transfer of property act, a transaction may be held to be a mortgage with conditional sale if it is evidenced by one document. the condition precedent for arriving at a finding that the transaction involves ..... filing of the suit by several notices, the plaintiffs expressed their intention to redeem the mortgage. a personal tender of the entire mortgage amount was made which was refused. an application under section 83 of the transfer of property act was filed wherein an order for deposit of the mortgage amount was passed. in the said proceedings an objection was filed raising a contention that ..... to reconveyance contained in a separate document could be taken into consideration in finding out whether a mortgage was intended to be created by the principal deed. the transaction in this case has been evidenced by one document. section 58(c) of the transfer of property act will, therefore, apply. 10. in the instant case, the scribe of the document was examined. his .....Tag this Judgment!
Court : Chennai
Reported in : 29Ind.Cas.916
..... encumbrancers are neither lost nor merged in the title acquired by the mortgagee-purchaser. they would be outstanding--see section 55, clause (d) of the transfer of property act. the only question is whether the first mortgage is capable of enforcement as such in a suit founded on it. if it was intended to lay down that it is open to a mortgagee ..... the rights of the 1st plaintiff in the equity of redemption. the other defendants are the alienees of the mortgaged properties from the 1st defendant. the defence of these alienees was, the right of the 1st plaintiff under the mortgages was extinguished by the transfer which he obtained from sundara raja aiyangar of the equity of redemption. the subordinate judge came to the conclusion ..... afford any ground for supposing that it was the intention of tha 1st plaintiff to keep the suit mortgage alive as a protection against them or to bring the case within the exception to section 101 of the transfer of property act.3. the subsequent mortgage of two items only for the small sum of rs. 160 under exhibit 19 could not affect the ..... again was attested by the 1st plaintiff. by exhibit ii of the 13th may 1906, he transferred to his wife some property. on the 26th november 1906 he mortgaged to certain persons another portion of the property under exhibit ix. both these alienations were similarly attested by the 1st plaintiff. i will now refer to transactions which were not attested by the 1st plaintiff .....Tag this Judgment!
Court : Kolkata
Reported in : (1906)ILR33Cal410
..... secure the debt then due from dhanpat singh to them. there can be very little doubt but that the mortgage was concluded on that day. it was a valid mortgage under section 59 of the transfer of property act and did not require registration. a valid mortgage had been created before the letter of the 19th. june 1893. the letter of the 19th june speaks ..... to it. upon the facts, however, we think the company must be taken to have had notice of this sub-mortgage, when they advanced the rs. 1,20,000 to dhanpat singh. notice is defined in section 3 of the transfer of property act. one bhupendra sri ghose, who was and had been for some years an articled clerk of sanderson & co., solicitors ..... series of years the point would not have arisen.. the case is stronger since the passing of the transfer of property act, for section 59 recognises such a transaction as a valid mortgage, without the necessity of registration, while section 58 tells us what a mortgage is, and section 67 what are the rights of the mortgagee. we, therefore, think that, apart from the ..... , inasmuch as it was a delivery to the creditor's agent of the three mortgages, which constituted the only documents of title of the property in question and that this was done with intent to create a security thereon. a mortgage is defined in section 58 of the transfer of property act. no registration then was required under section 59. as stated by the judicial .....Tag this Judgment!
Court : Mumbai
Reported in : (1916)18BOMLR862
..... the mokuiari villages. although the document of the 14th april, 1896, was by reason of its not having been attested as required by the transfer of property act, 1882, not enforceable as a mortgage, jadu nath mukhurji got possession under it of the mokurari villages, and held possession for the agreed period.7. the case, which the plaintiffs attempted to make in the ..... at the above rate up to the date of realisation shall be paid on the excess amount by the zarbharnadar.4. the mortgage was in their lordships' opinion an usufructuary mortgage within the meaning of section 67 (a) of the transfer of property act, 1882, but as it was not attested by at least two witnesses, as required by section 59 of that act ..... be repaid. that document certainly did not create a charge within the meaning of section 100 of the transfer of property act, 1882; it was a usufructuary mortgage, which could not be enforced as a mortgage. even if it could be regarded as an enforceable usufructuary mortgage the plaintiffs could not, by reason of section 67 (a), institute a suit for sale based upon it ..... claims it must be mentioned that the plaintiffs' case was that the deed of the 14th april, 1896, was not a usufructuary mortgage, but that it had created a charge within the meaning of section 100 of the transfer of property act, 1882, upon the mokurari villages. it had, however, been treated by maharaja nam narayan singh and jadu nath mukhurji as a .....Tag this Judgment!
Court : Karnataka
Reported in : AIR1953Kant105; AIR1953Mys105
..... holding that it is a conditional sale and not a mortgage; see gour's transfer of property act, vol. 2, 1948 edn., para 1401 and mulla's transfer of property act, 1936 edn., 330. if really the transaction was to be a mortgage with possession and that of a property which according to the plaintiffs was very valuable, there was ..... offer till 7-9-46 to file a suit to enforce their rights. they could easily have had the amount deposited in court under section 83, transfer of property act or sent it by money order if the defendant refused to receive it personally. as has been held in --'shanmugam pillai v. annalakshmi ammal', ..... document and not in two separate documents, are strongly in favour of his contention. he has referred to the proviso added to section 58, transfer of property act by section 16 of the amending act 16 of 1938 and relied on cases of this court reported in '51 mys hcr 187 (a)' and ..... by mr. iqtaal hussain, learned counsel for the appellants, that the document ex. a is in reality a deed of mortgage and not a sale deed. he urges that the value of the property at the time of its coming into existence, and the circumstance that the agreement to reconvey is embodied in the same ..... treated as an absolute sale deed and after the expiry of the period the defendant may enjoy the property as he liked.4a. it has been held that one of the main tests to distinguish a mortgage by conditional sale from a sale with a condition for repurchase is whether the relation between the .....Tag this Judgment!
Court : Allahabad
Reported in : 2Ind.Cas.460
..... mortgaged property but also, in certain events, for a decree under section 90. the plaint itself contained a prayer for such relief. we think ..... to the applicant, and his express contract as to the payment of the amount of the mortgage due to the applicant, got the mortgaged zimindari property transferred to himself and for several years enjoyed the considerable profits accruing from the mortgaged zamindari property, without paying the amount due to the applicant.' in spite of its prolixity of form this is simply an application under section 90 ..... lakhpati kuar. it no doubt appears inequitable that pandit ramautar pande should have taken a transfer of the mortgaged property for rs. 44,000 on condition of paying rs. 40,000 in satisfaction of the mortgage, and that he should now be permitted to retain a large part of the mortgaged property without discharging his obligation. this is, however, the unfortunate result of the decision we ..... held that the cause of action arose to the plaintiff on 24th november 1896. this decision on the construction of the mortgage deed is binding on us. the suit in which the decision was given was a suit under the provisions of the transfer of property act, and we must take it that the suit was not only for the sale of the .....Tag this Judgment!
Court : Gujarat
Reported in : AIR1979Guj171
..... features which do support the conclusion that the transaction was an unreasonable and unconscionable one. first of all, as the material on record haws, the property was mortgaged from time to time. it was lastly redeemed from the last mortgagee by paying the amount due to khatri jamat against whom aishabai, that is, ..... a long term of 199 years as was the case in maganlal's case (supra). it is also true that in that case, the property was mortgaged for such a long period to secure a debt of only rs. .61 although it was not necessary or customary to submit to such a ..... v. shankar lal, air 1958 sc 770 as also other cases, that having regard, inter alia, to the fact that (1) the mortgage was a child lady who mortgaged the property in question for 199 years to secure a debt of rs. 61 although it was not necessary or customary to submit to such long ..... act was not applicable to the kutch region at the relevant time or that there was a custom of entering into long-term mortgages, in that region, there is no material on record justifying any such conclusion. ..... mortgages or that there is such a custom in the entire india without exception including kutch region where the suit property was situated. this remark also cannot help mr. mankad in his submission that there is such a custom prevalent in kutch region. again, beyond an averment in the written statement to the effect that the transfer of property .....Tag this Judgment!