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SOP On Title Deeds & TIR 250917
SOP On Title Deeds & TIR 250917
CPP/SGS/Cir/ 25/09/2017
Madam/Dear Sir,
Please refer to the Master Circular on TIR issued vide e-Circular No.CCO/CPPD-
ADV/5/2013-14 dated 13/04/2013 containing detailed guidelines on the subject as well
as formats for seeking TIR from the Bank’s empanelled Lawyers.
3. Since Master Circular on TIR was issued in April,2013, a need was felt to update the
same with the latest instructions and SOP also to be prepared for convenience of
operating units. Accordingly, SOP has been prepared and is placed as Annexure. The
mitigating measures for the concerns mentioned in para.2 above have been factored in
this SOP.
5. The changes in instructions have been highlighted in bold in SOP. A synopsis of the
major changes and revised instructions are placed as Annexure-I to this Circular.
7. This modified circular instructions supersedes all earlier instructions issued in this
regard.
8. DGM & CCO, in consultation with Law Officers posted in Circles / Administrative
Offices / MCG / CAG / SAMG shall advise the latest changes in stamp duty /
registration of EM (state subject) / noting of lien on agricultural properties etc., if any, to
the branches under their control. They shall also advise CPPD for carrying out suitable
amendments in the next review.
Rationale:- Updation of Master Circular on TIR and SOP to handle Title Deeds.
Yours faithfully
Annexure-B No change.
Report of Investigation of Addition:
Title in respect of immovable 25. b) i) Whether the property (to be mortgaged) is
Property purchased by the above Company from any other
Annexure-C1 Annexure-C1
Annexure-F Annexure-F
Checklist on identification Checklist on identification and physical verification of
Extant Instructions Revised instructions
and physical verification of the properties
the properties Certificate
Certificate We confirm that we have personally visited the property to
We confirm that we have be accepted as Mortgage on ------------ and
personally visited the property certify that the details given in the TIR / property
to be accepted as Mortgage on documents conform to our finding.
and certify that the details
given in the TIR conform to our
finding.
Annexure-G Procedure and Annexure-G Procedure and Precautions
Precautions
To safeguard the interest of 2.13 To safeguard the interest of the Bank, a letter
the Bank, a letter confirming (contents printed in an Inland Letter) confirming the
the deposit of the title deeds deposit of the title deeds with intent to create the
with intent to create the mortgage in favour of the Bank as security for the
mortgage in favour of the Bank advances should be obtained from the mortgagor(s) [by
as security for the advances post].
should be obtained from the
mortgagor(s).
Annexure-G Procedure and 2.15 When the mortgagor who has already created an
Precautions equitable mortgage in favour of the Bank as security for
When the mortgagor who has existing advance, is granted additional/fresh advance
already created an equitable sought to be secured by extension of the existing mortgage,
mortgage in favour of the Bank the following procedure should be followed:
as security for existing i. a supplementary recital on the lines of the
advance, is granted Bank’s standard format should be recorded in the
additional / fresh advance title deeds register; and
sought to be secured by ii. supplementary confirmatory letter should be
extension of the existing obtained from the mortgagor confirming the deposit
mortgage, the following of title deeds pertaining to the properties made
procedure should be followed: earlier which shall continue as security for the
(a) a modified recital on the enhanced/ additional/ fresh loan granted to the
Extant Instructions Revised instructions
lines of the Bank’s standard borrower
format should be recorded in
the title deeds register; and
(b) a modified confirmatory
letter should be obtained from
the mortgagor following the
recording of the recital.
Annexure-G Procedure and
Precautions
4.1 Demarcation 4.1 No change.
Demarcation of the property is Addition:-
important for its identification The property should be legally accessible through
and possible enforcement, if normal carriers to transport goods to factories /
required on a later date. houses, as the case may be.
Hence, no property should be
accepted as primary security/
collateral security if the
property cannot be
demarcated. The advocates/
Valuers should also be
sensitised in this regard.
Annexure-G Procedure and 7. In no case photocopy / laminated photocopy of the title
Precautions deed is to be accepted. Laminated original documents
In no case photocopy / should also receive a more cautious approach. Where the
laminated photocopy of the laminated original title deeds are considered in
title deed is to be accepted. exceptional cases, such cases should be treated at par
Laminated original documents with lost Title Deeds cases and the process laid down
should also receive a more for the lost Title Deeds should be followed.
cautious approach
Annexure-H-1 Memorandum Annexure-H-1 Memorandum of Understanding with
of Understanding with Panel Panel Advocate
Advocate
The Advocate / Solicitor /Law The Advocate / Solicitor /Law Firm shall within 10 days
Extant Instructions Revised instructions
Firm shall within two working (except in case of Housing Loans) furnish to the Bank
days (excluding the date of the title certificate and search verification report after
pick up) furnish to the Bank receipt of the entire papers in respect of property.
the title certificate and search
verification report after receipt
of the entire papers in respect
of property.
Registration of EM with ROC 12. Registration of EM with ROC / CERSAI
/ CERSAI Particulars of Equitable Mortgage created by
Particulars of Equitable companies/LLPs must be registered with the Registrar of
Mortgage created by Companies within 30 days of their creation as prescribed by
companies must be registered the Companies Act. This should be supported by
with the Registrar of appropriate resolutions of the corporate.
Companies within 30 days of
their creation as prescribed by
the Companies Act.
SOP-Part-II
1.2 The envelope / cover containing title Deeds shall be numbered in the following
manner before the same are kept inside the fire proof cabinet:
For others
Segmen Year EM Folio Cabinet No Docket No (To be serially
t Register No numbered and entered on
No the face of the document)
A B C D E ABCDE