Procedure for disbursment

Mahesh (Querist) 10 December 2012 This query is : Resolved
My client has taken Housing loan from bank. bank has issued copy of pay order and said that prepare and registered sale deed. my client has follow the procedure and after the sale deed registered bank has given instruction for mortgage registration with penal advocate but panal advocate denied the procedure and said the the date of pay order and date of registration of mortage and date of disbursement are all in singal day.

so my queary is which one is right bank or panal advocate ?

in current practical bank proceduce is acceptable

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Devajyoti Barman (Expert) 10 December 2012
Panel advocate is not right.
The pay order may be prepared ante date, there would be no legal impediment at all.

Mahesh (Querist) 10 December 2012
thank you sir

do have any legal judgment about this matter?

Guest (Expert) 10 December 2012
No hard & fast rule. Registration of mortgage can be on any date even before or after the pay order.

Nadeem Qureshi (Expert) 10 December 2012
Dear Querist
I agree with experts, nothing left to add

ajay sethi (Expert) 10 December 2012
you dont need judgements on this issue

Raj Kumar Makkad (Expert) 11 December 2012
This is a common issue which do not require any force of judgment.

malipeddi jaggarao (Expert) 13 December 2012
morgage can be created for past, present and future consideration. But disbursement date and pay order date is always one and the same.

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