Unregistered Loan Agreement

A credit agreement entered into by an unregistered lender, which was not aware of the registration requirement, appears to be a good example of an illegal agreement in the event of little or no turbulence on the part of the lender. While the courts reserve the power to authorize or deny the restitution of unjust enrichment in such a case, it is a good power to avail themselves of such an action and to succeed. … unregistered mortgage as a loan agreement.3. The first instance dismissed the appeal on the grounds that it was late and on the grounds that the nature of the appeal… At trial and after hearing counsel for the petitioners and drawing the recordings from them, I find that the order of the first instance requires interference. Since the mortgage is not registered, it`s at most… and, therefore, the complainants could not obtain an order-in-council, as if there were a valid mortgage. The plaintiff therefore wished to amend the appeal, the personal order against the defendant and the use of … Document which is an unregord mortgage deed that would have been executed by the sellers in the title of the petitioner for the benefit of the respondent/defendant, and promised that the possession of the property… delivered to the defendant as a mortgage in possession, entangled on the stamped paper of the value Rs. 100/-.

This is the particular case of the petitioner that the document has put an unregord mortgage certificate… under-buffered, was rightly rejected.8. Otherwise, too, the document, which is called a mortgage deed, although it is not registered, but on the stamp paper worth Rs. 100/-, elsewhere… Civil Judges (J.D.) Visnagar in Regular Civil Suit No. 142 of 1968 dismissing the complaint in question with the provisional reason that the lawsuit for the repayment of the mortgage in connection with an alleged unregistered mortgage… Supporters of the parties, he considered that at the relevant date the mortgage deed, even for the amount less than Rs. 100/-, in the former state of Baroda, required registration and therefore legal action for the withdrawal of such … After examining the various authorities before him by the lawyers of the parties to bring legal action for the repayment of a mortgage on an unregistered mortgage, was not received and therefore…

In the absence of such a provision, there is ambiguity as to the validity and application of these unregistered ATSes, which are now legally required to be forcibly registered. Parliament must respond to the aforementioned ambiguity with an appropriate amendment to the law. Alternatively, the national governments concerned could address the issue in the internal regulation. In the absence of a law, developers are well within their rights to defend themselves if, on the basis of an unregistered ATS, that the content of such an ATS cannot be read for the purposes of evidence, according to Section 49 of the Registration Act.