NARANDAS KARSONDAS versus S. A. KAMTAM & ANR.

A mortgagor's right to redeem the property survives until execution and registration of a conveyance transferring ownership; mere power of sale or auction sale does not extinguish the right of redemption; completion by registration is essential.

Parties: Appellant: Narandas Karsondas; Respondent No. 1 (mortgagor): S. A. Kamtam (Flora Co-operative Housing Society); Respondent No. 2 (mortgagee): Maharashtra Co-operative Housing Finance Society Ltd.
Jurisdiction: India
Judgment Date: 07 December 1976
Procedural Posture: Civil Appeal / Judgment on Appeal by Special Leave
Outcome: Appeal dismissed
Legal Topics: Mortgage Redemption, Power of Sale, Registration of Sale Deed, Agency Coupled With Interest

Property Law Contract Law Mortgage Redemption Power of Sale Registration of Sale Deed Agency Coupled With Interest

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Full judgment text Legal principles 4 Authorities cited 12 Party arguments 2 Amounts and remedies 9

Parties

Narandas Karsondas

Appellant

S. A. Kamtam (Flora Co-operative Housing Society)

Respondent No. 1 (mortgagor)

Maharashtra Co-operative Housing Finance Society Ltd.

Respondent No. 2 (mortgagee)

Procedural Posture

Civil Appeal / Judgment on Appeal by Special Leave

Legal Issues

1 Whether mortgagor's right of redemption is extinguished after mortgagee sells mortgaged property by public auction without court intervention
2 Whether power of sale extinguishes equity of redemption prior to execution and registration of conveyance
3 Whether agency coupled with interest under s.202 of Indian Contract Act becomes irrevocable after power is acted upon

Ratio Decidendi

Court Disposition

Appeal dismissed

Orders

Appeal dismissed with costs to respondent No 1 (Flora Co-operative Housing Society)