Mortgagee's right to compensation after acquisition is enforceable against compensation money, but not saleable under a mortgage decree.

A mortgagee's entitlement after compulsory acquisition of mortgaged property is a right to seek satisfaction of the mortgage debt from the compensation money, because the mortgage security shifts to that compensation. The mortgage decree cannot treat that compensation right as ordinary immovable property capable of sale under Order 34 CPC. The statutory scheme under the Transfer of Property Act and the West Bengal Estates Acquisition Act preserves enforcement against the compensation fund, but not a sale of the intermediary's contingent compensation claim as a separable asset. The lawful remedy is to proceed against the compensation money for recovery of the secured debt.

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Issues: Whether the intermediary's right to compensation money arising on acquisition of the mortgaged property could be sold under a mortgage decree.

Analysis: The mortgagee's right under the Transfer of Property Act was a right to claim satisfaction of the mortgage debt out of the compensation money after compulsory acquisition, with the mortgage security shifting to the compensation. The statutory and procedural scheme distinguished between enforcing a charge against compensation money and selling that right as if it were ordinary immovable property. Order 34 of the Code of Civil Procedure contemplates sale of mortgaged property and application of the sale proceeds, while the West Bengal Estates Acquisition Act and the Transfer of Property Act preserved the mortgagee's entitlement to proceed against compensation money. The Court also noted the practical impossibility and illegality of treating an indeterminate compensation right as a separable saleable asset.

Conclusion: The right to compensation money could not be sold under the mortgage decree, though the mortgagee could pursue lawful remedies against the compensation money for satisfaction of the mortgage debt.

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