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2018 (4) TMI 1543 - HC - CustomsRecovery of dues - first charge on property - Sale of property - whether the right of the petitioner would be protected only if the mortgage was registered as has been held in the impugned order? Held that: - The equitable mortgage in the instant case is created in favour of the petitioner-Bank on 2-7-1997 by depositing the original documents relating to the property owned by them. In that regard respondent No. 4 has written a letter to the Bank on 6-6-1998 confirming the deposit of title deeds with an intention to create mortgage by way of deposit of title deeds. If that be the position, it is clear that in the instant case there is no deed executed between the parties which required a registration as contemplated under Section 17 of the Registration Act, but actual delivery of the original title deeds relating to the property is completed and the letter was addressed to the Bank. Insofar as the recovery as contemplated under the Central Excise Act or the Customs Act, there is no such provision to provide for precedence as has already been filed by this Court. If that be the position the Order-in-Original and the order passed in an appeal as at Annexures ‘J’ and ‘K’ in the present context would not be sustainable. Petition disposed off.
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