DEAR EXPERTS,
PLEASE ADVISE ABOUT THE FOLLOWING -
A PARTNERSHIP FIRM HAS EXECUTED A MORTGAGE DEED AT THE REGISTRAR'S OFFICE IN MAHARASHTRA FOR CREATION OF SECOND CHARGE TO A BANK. THE FIRST CHARGE OVER THE FIXED ASSETS IS HELD BY ANOTHER BANK. THE FIRST CHARGE HOLDER BANK HAS NOT BEEN MADE PARTY TO THIS MORTGAGE DEED. IS THE MORTGAGE VALID?
FURTHER THE REGISTRAR HAS MENTIONED THE AMOUNT OF CHARGE CREATED AS RS - 0/- (RUPEES ZERO ONLY). WILL THIS DOCUMENT BE ENFORCEABLE IN COURT OF LAW?
REGARDS,
MANOJ HARIT
