JAGAT NARAYAN, C.J.—The two execution first appeals can conveniently be disposed of by one judgment.

2. Maharaja Kishangarh Mills Ltd., had dealings with the Punjab National Bank Ltd. Money was advanced to the Mills by the Bank on the surety of one Bhagchand Soni. Title deeds of the property belonging to the firm Jawaharmal Gambhirmal of Ajmer of which Bhagchand Soni was the Karta were delivered to the Head Office of the Punjab National Bank Ltd., at Delhi between 15.11.54 and 27.11.54. These pertained to the properties situated at Ajmer, Kishangarh, Jaipur and Jodhpur. When the Maharaja Kishangarh Mills became indebted heavily the matter was referred to the arbitrators. One award was given on 12-2-58 for Rs. 94,070. A decree was passed on the basis of this award on 18-2-58 by the Senior Civil Judge, Ajmer. It was a mortgage decree.

3. Another award was given on 8-6-58. It was for Rs. 2,81,724/72. A mort-gage decree was passed on the basis of this award on 30.5.59.

4. The first decree for Rs. 94,070 was put into execution on 4-2-61 for the recovery of Rs. 1,11,883/05. Bhagchand Soni was adjudged insolvent on 12-12-62 and a receiver of his estate was appointed and one Chhutanlal was appointed receiver of his estate. He filed a number of objections which were overruled by the executing court. Chuttan Lal has preferred execution first appeal No. 24/64 against that award. The first contention is that the decree which was passed was not executable as it was only a preliminary decree for mortgage. The decree is in the following terms—

(1) That the plaintiff is entitled to recover a sum of Rs. 94,070 (rupees ninety four thousand and seventy only) from Messrs Maharaja Kishangarh Mills Ltd. and defendant No. 2 Seth Bhagchand Soni. In the first instance, the company will be liable for the amount and failing realisation from it, for any reason whatsoever, the defendant No. 2 will be liable for the full amount.

(2) The company (defendant No. 1) and defendant No. 2 subject to above for self and as Karta of the family will pay Rs. 7500 half yearly; the first instalment to be due on 1.8.1958.

(3) The properties mortgaged covered by the title deeds as mentioned in the Schedules 1 and 2 attached to the agreement of reference and as per plans attached will remain mortgaged with the plaintiff as before as security for the aforesaid dues of the plaintiffs. The plans of the Jaipur properties were not prepared and handed over to the arbitrator.

(4) In case of default in payment of two instalments, the plaintiff shall be entitled to realise its full amount forthwith by execution against personal properties of the company (defendant No. 1) and/or by sale of the mortgaged properties and/or from the personal properties of defendant No. 2.

(5) The interest of the other coparceners of the family; both adults and minors in the mortgaged properties above will remain liable for the dues of the plaintiff.

(6) The rate of future interest till realisation will be 6% per annum with half yearly rests.

5. From a perusal of the above decree we are of the opinion that it was executable at the stage at which the execution application was made. Bhagchand Soni did not pay any instalment in accordance with the terms of the decree and therefore the whole amount had fallen due and had become recoverable by the sale of the mortgaged properties. This contention has therefore no force.

6. The next contention is that sec 58(f) of the Transfer of Property Act which defines mortgage by deposit of title-deeds was not applicable to the town of Delhi in November 1954 and therefore mortgage by deposit of title deeds was invalid. We find that the Transfer of Property Act was not applicable to Delhi in November 1954. It was accordingly open to the parties to make an oral mortgage. The intention of the parties clearly was to hypothecate immovable properties by delivery of title deeds. A valid simple mortgage of these properties thus came into existence by the voluntary act of the parties. A dec

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