S.C.Prasad, J.

1. This is an appeal directed against the judgment of the Subordinate Judge of Hazaribagh decreeing the suit of the appellants which they had filed on the basis of an equitable mortgage alleged to have been created by the respondents on the 11th August, 1945 to secure advances made by the appellants to the respondents up to the limit of Rupees one lac as over draft from them to enable the respondents to carry on their business of mica. It was alleged that this mortgage was created by deposit of two title deeds on the aforesaid date at Calcutta by defendant No. 4 with the letter of authority dated 9-8-1945 (Exhibit 7a) addressed by defendant No. 2 to the Bank authorising defendant No. 4 to deposit the title deeds with a view to create an equitable mortgage on the properties, the subject-matters of those title deeds, to make the advances by the Bank in the account of Messrs Lekharam Sonaram and Co. of Giridih, defendant-respondent no. 1, secure, declaring that he was "the sole owner of the Giridih Property as per schedule below", that the properties of the title deeds to be deposited were free from all incumbrances, nobody else having any claim, right or title