https://www.taxtmi.com/caselaws?id=275952 A mortgage transaction was held not to be a mortgage by conditional sale where the original arrangement was a mortgage and the clause converting it into a sale on default operated as an impermissible clog on the right of redemption. The Court treated the default-to-sale stipulation as inconsistent with the mortgage bargain and invalid. It also held that a puisne mortgagee whose claim to recover the mortgage money had become time-barred could not sue to redeem prior mortgages, because the redemption right under Section 91(a) depends on a subsisting interest or charge in the property. The suit was dismissed and costs were awarded. en-us Thu, 23 Jan 1969 00:00:00 +0530 Tue, 23 Oct 2018 17:47:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275952 A mortgage transaction was held not to be a mortgage by conditional sale where the original arrangement was a mortgage and the clause converting it into a sale on default operated as an impermissible clog on the right of redemption. The Court treated the default-to-sale stipulation as inconsistent with the mortgage bargain and invalid. It also held that a puisne mortgagee whose claim to recover the mortgage money had become time-barred could not sue to redeem prior mortgages, because the redemption right under Section 91(a) depends on a subsisting interest or charge in the property. The suit was dismissed and costs were awarded. Case-Laws Indian Laws Thu, 23 Jan 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275952