Legal Question in Credit and Debt Law in India
Mortgage
The question pertains to laws in India
A pvt Ltd has given a construction contract to B, a firm. B has raised a loan from an institution. Can A mortgage( euitable or english)its immovable property to the lender's of B in order to secure the loan given to B. As the relationship between A and B' Lender is not that of a debtors and Creditor. Kindly clarify with suitable case laws
Asked on 9/29/01, 2:02 am
1 Answer from Attorneys
Prabhat Shroff
Shroff & Company
Re: Mortgage
Prima facie, A can create an equitable or an english mortgage to B's lender. However, a precise advise with case laws can only be given after getting more facts.
Regards
Prabhat Shroff
Answered on 11/07/01, 12:44 am
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