Legal Question in Banking Law in India

hi , my father is a proprieter of a manufacturing firm . we want to make a LIMIT(equitable mortgage) in BANK. they ask for security . we have power of attorney on my father's name , we dont have REGISRY of property. my father wants to make a REGISTRY on my mother;s name. Whether BANK will accept such REGISRY as security ?

whether there is any BANKING LAW which prohibits the BANK to do Equitable mortgage If, my father does REGISTRY on my mother's name ? plz help me in point of view BANKING LAWS in INDIA.


Asked on 12/01/09, 10:06 am

1 Answer from Attorneys
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

There is no legal bar. However, you should consult the Bank about the documents they may accept.

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Answered on 12/01/09, 7:27 pm


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