M. ANANTANARAYANAN, Offg. C.J. :- On the 29th October 1957, a document, which purports to be a memorandum of mortgage by deposit of title deeds, came into existence as between the Jawahar Mills Ltd., Salem and the Indian Overseas Bank Ltd. The document was presented for registration on 30-10-1957, and it bore stamps under Art. 6 of Sch. I of the Indian Stamp Act. The question referred to us for decision is, whether this is an agreement relating to the deposit of title deeds, pawn or pledge, falling under Art. 6(2)(a) of Sch. I, or is a mortgage deed falling under Art. 40(b) of the same Schedule of the Indian Stamp Act.

2. Before proceeding to the details of the recitals in this document, which has two schedules of properties attached, namely, schedule A and Schedule B, it may be useful to briefly refer to certain relevant provisions of the Indian Stamp Act, 1899, the Indian Registration Act and the Transfer of Property Act. Section 2(17) of the Stamp Act is an inclusive definition of a deed of mortgage, and, by its terms "includes every instrument whereby, for the purpose of securing money advanced, or to be advanced, by way of loan, or an existing or future debt, or the pe