(a) Every security or pledge/mortgage deed shall be executed before an officer who is not below the rank of Branch Manager of District Development Bank or Valuation Officer or Supervisor and who is competent/empowered by general or special order of State Development Bank or District Development Bank;
(b) Loanee applicant and/or their legal successor, representatives/in case of minor his guardian and/or those persons who are interested legally with the land or movable/immovable properties to be pledged/mortgaged in favour of District Development Bank or State Development Bank, his surety and/or along with guarantor shall present themselves before the officer empowered under clause (a) above personally for execution of deed;
(c) Officer so empowered shall himself satisfy with such accurate pledge/mortgagor/Guarantor and correct identification of present witnesses. He/She will verify the entries and subject matter of deed from the original documents;
(d) After satisfaction of the competent/empowered officer the pledge/mortgage deed and/or Surety deed and/or guarantee deed shall be executed and shall be submitted in four copies;
(e) After execution the competent/empowered officer shall immediately keep two copies of executed deed in safe custody of the bank and send a copy to the Registration Officer under whose jurisdiction mortgaged assets or a portion thereof lies within 30 days of execution and in order to ensure that a copy or copies of registration letter has been filed in Book No. 1 as described in Section 51 of Registration Act, 1908 (No. 16 of 1908) by Registration Officer obtain a certificate from Registration Officer accordingly and shall keep it with copies of deed kept in the Bank's custody;
(f) The competent/empowered officer shall forward a copy of executed pledge/mortgage deed or/and surety/security deed to concerned Tehsildar or any officer designated by the State Government for this purpose and/or any concerned organisation under whose jurisdiction land or property lies, within 30 days of the execution of deed for the purpose of necessary entry in revenue records or concerned records.
Section 27 • The C.G. Sahakari Krishi Aur Gramin Vikas Bank Rules, 2008
27. Exemption from registration of Security deed or deeds.
the-c-g-sahakari-krishi-aur-gramin-vikas-bank-rules-2008-sec-27.json
•
Section 27
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"section": {
"number": "27",
"title": "27. Exemption from registration of Security deed or deeds.",
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"content": "(a) Every security or pledge/mortgage deed shall be executed before an officer who is not below the rank of Branch Manager of District Development Bank or Valuation Officer or Supervisor and who is competent/empowered by general or special order of State Development Bank or District Development Bank;\n(b) Loanee applicant and/or their legal successor, representatives/in case of minor his guardian and/or those persons who are interested legally with the land or movable/immovable properties to be pledged/mortgaged in favour of District Development Bank or State Development Bank, his surety and/or along with guarantor shall present themselves before the officer empowered under clause (a) above personally for execution of deed;\n(c) Officer so empowered shall himself satisfy with such accurate pledge/mortgagor/Guarantor and correct identification of present witnesses. He/She will verify the entries and subject matter of deed from the original documents;\n(d) After satisfaction of the competent/empowered officer the pledge/mortgage deed and/or Surety deed and/or guarantee deed shall be executed and shall be submitted in four copies;\n(e) After execution the competent/empowered officer shall immediately keep two copies of executed deed in safe custody of the bank and send a copy to the Registration Officer under whose jurisdiction mortgaged assets or a portion thereof lies within 30 days of execution and in order to ensure that a copy or copies of registration letter has been filed in Book No. 1 as described in Section 51 of Registration Act, 1908 (No. 16 of 1908) by Registration Officer obtain a certificate from Registration Officer accordingly and shall keep it with copies of deed kept in the Bank's custody;\n(f) The competent/empowered officer shall forward a copy of executed pledge/mortgage deed or/and surety/security deed to concerned Tehsildar or any officer designated by the State Government for this purpose and/or any concerned organisation under whose jurisdiction land or property lies, within 30 days of the execution of deed for the purpose of necessary entry in revenue records or concerned records.",
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