Order 34 of the Code of Civil Procedure, contains provisions relating to suits on mortgages, with its marginal heading suggesting that the Order is confined to mortgages of immovable property. The question, has nevertheless arisen whether the Order applies also to mortgages of movable property or hypothecation thereof, thanks to varying judicial perceptions. This interesting legal controversy has been examined in this article. One of the much misunderstood areas of Indian business law is that of hypothecation and mortgage of movable properties. Although such transactions have been upheld in many cases, obscurity still survives in this field. Sale of Goods Act Section 66(3), Sale of Goods Act, 1930 lays down that the provisions of the Sale of Goods Act do not apply to any transaction in the form of a contract of sale which is intended to operate by way of mortgage pledge, charge or other security. This is an indirect recognition of hypothec ....