Legal Question in Banking Law in India

If the objects and bye laws of the Society provide for mortgaging the Regd. society's property mortgage equitable or otherwise can be created. If they do not permit, then it cannot be done. There is no question of seeking any permission of any competent court in either case.

If it is a Co-operative society then Prior permission is required for mortgaging the property.

The same procedure applicable to an individual property owner is to be adopted. However, some filings may be necessary with the authorities after such mortgage.

I agree with Seshadri,

For more detail plz send documents .

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