( 1 ) PLAINTIFF filed this suit, inter alia, alleging that it is a Banking company having its registered office at Clock Tower, Udaipur (Rajasthan) and a branch office at 82, Janpath, New Delhi. Plaint has been signed, verified and suit instituted by L. N. Sapra (Manager of the said branch) who is the principal officer and also holds power of attorney in his favour. Defendants who are the owners of Plot No. G-39, Green Park, New Delhi, wanted to construct a building thereon. They approached the said branch of plaintiff Bank for grant of loan being short of funds. Bank agreed to advance loan of Rs. 75,000/- to them on the terms and conditions set out in the letter dated 25th August, 1975 salient features of this letter have been given inub-paras (a) to (i) of Para 4 of the plaint. It is further alleged that defendants on 3rd September, 1975 created equitable mortgage of the property to be constructed on said plot G-39, Green Park by depositing title deeds with the said branch of the Bank. Total amount of loan of Rs. 75,000. 00 was received by the defendants from plaintiff by 11th December, 1975. It is stated that a registered lease deed between the parties was executed on