1. Equatable mortgage of the property was created by the owner of the property by depositing the noriginal title deed of the property,
2. No mortgaged property can be dealt with in any manner,
3. So, the Gift Deed, registered by the mortgagor is invalid,
4. The donee shall have no legal right, title and interest on the said mortgaged property,
5. The mortgagee bank can sell the property by initiating SARFAESI Proceeding and issue valid sale certificate to its successful bidder in the acution sale.