Section 28
Where a mortgage is executed in favour of a Mortgage Bank fo 1 payment of prior debts of the mortgagor, the Bank may, notwithstanding the 75 and 76 of the Transfer p
28. Where a mortgage is executed in favour of a Mortgage Bank fo 1 payment of prior debts of the mortgagor, the Bank may, notwithstanding the 75 and 76 of the Transfer p
of Property Act, 1882 by notice in writing, require any person to whom any such debt is due, to receive payment of such debt or part thereof from the Mortgage Bank at its registered office within such period a' -µiay be specified in the notice.
Act IV
of
V of
Where any such person fails to receive such notice or such payment, such debt or part thereof as the case may be, shall cease to carry interest from the t;xpiration of the period specified in the notice:
Provided that where there is a dispute as regards the amount of any such debt the per3on to whom such debt is due shall be bound to receive payment of the amount offered by the Mortgage Hank towards the debt, but such receipt shall not prejudice the right, if any, of such person , to recover the balance claimed by him
. . 29. (1) Notwith,tanding anything contained in the Registration Indian Registration Act
of documents 1908 it shall not be necesRegistration
of documents ' executed on sary for any officer of a Mortgage Bank or of the behalf of a Central Mortgage Bank to appear in person or by Mortgage agent ::it any 1 egistration office in any ~hank~r t tofl connected with the registration of a.ny instrumevt M~rtga~:a executed by him in his official cap::tcity or to sign Bank, as provided in SeGtion 58 of that Act.
Where any instrument is so executed, the registering officer to wh')m such istrument is presented for regi>tration, may, if he thinks fit, refer to such officer as stated in sub -;ec ti on ( l) for information respecting the same, and on being satisfied of the execution thereof, shall register the instn·ment.
Proofof docum.ents cdniriea c·1men '·
Roop's Law Assist