Sir,
A simple mortgage in state of maharashtra was created in favour a bank by registering the mortgage deed before Registrar for securing a facility of say Rs 40.00 lacs. Now the borrower was allowed enhancement of facility from Rs 40.00 lacs to Rs 70.00 lacs against security of same property already mortgaged. However, this time borrower/ mortgagor wants to enhance charge by creating further charge through Equitable mortgage. Please help whether further charge of Rs 30.00 lacs can be created by executing letter of deposit of title deeds ( Equitable mortgage) and subsequently filing letter of intimation (as prescribed in Mahahrshatra Registration Act) before the sub registrar concerned as there is an opinion that any enhancement by way of further charge upon a property which has already been mortgaged by way of simple mortgage can only be done through simple mortgage as registration Act allows modification to registered document only by way suplimentary registered document. Any judgement or order if any related to matter if available will be an additional comfort.
