ORDER

1. These appeals are before this Bench because a two- judge Bench of this Court felt that there is no clear cut authority on the question as to whether a property can be equitably mortgaged by depositing documents which may not be title deeds or registered document of title. In view of the decision which we propose to take, it is not necessary to answer this question in the present cases.

2. Briefly stated, the facts necessary for the decision of these cases are that M/s United Auto Tractor Ltd (for short, the "Company") applied to the Government of Andhra Pradesh for allotment of land. The Government of Andhra Pradesh allotted 51 acres of land in the industrial Development Area, Nacharam, Andhra Pradesh to the Company, in terms of an order dated 18.7.1972. An agreement was entered into on 03.8.1972 between the Government of Andhra Pradesh and the Company regarding payment of the cost of the land. The sale deed was to be executed and registered in the name of the Company only on full payment. We are mainly concerned with clause 8(a) and 8(b) of the said agreement which read as follows :

"8(a) Without prejudice to the rights of the State Bank of India or any other financing ag