JUDGMENT

CHANDRAMAULI KR. PRASAD, J.

C.A.NO.9030 OF 2013 (@SLP (CIVIL) NO.18323 OF 2008)

The petitioners, aggrieved by the order of the High Court directing entry of charge in the revenue records on the basis of mortgage created by deposit of title-deeds, have preferred this special leave petition.

Delay condoned.

Leave granted.

Shorn of unnecessary details, facts giving rise to the present appeal are that one M/s. Ultra Tech Private, a company incorporated under the Companies Act, was sanctioned a term loan of Rs. 425 lakhs and working capital facility of Rs.99 lakhs by the Punjab National Bank (hereinafter referred to as the Bank). As agreed by the Bank, original title-deeds in respect of 19 Marlas of land belonging to Narvir Singh and 31 Marlas of land owned by Rajinder Kaur were deposited with the Bank by the borrower. In this way mortgage by deposit of title-deeds took place. It is not in dispute that this transaction had taken place in a town notified under Section 58(f) of the Transfer of Property Act. The Bank wrote to the Tahsildar, Panchkula for mutation on the basis of mortgage effected by deposit of the title-deeds. When nothing was done, the land owner filed writ petition be