https://www.taxtmi.com/caselaws?id=279752 A lease granted by a mortgagee in possession binds the mortgagor or purchaser only if it falls within prudent management or has the mortgagor's assent; a long-term lease at low rent over valuable urban property did not satisfy that standard, so it ended with extinction of the mortgagee's interest and did not bind the purchaser. Because the mortgage debt had been satisfied and the mortgagee's interest had ceased, the derivative tenancy also ended and the tenants could not invoke protection under the East Punjab Urban Rent Restriction Act, 1949. The mesne profits fixed at the premises' actual rent were also upheld, there being no sufficient reason to disturb that assessment. en-us Fri, 26 Sep 1969 00:00:00 +0530 Thu, 04 Apr 2019 09:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279752 A lease granted by a mortgagee in possession binds the mortgagor or purchaser only if it falls within prudent management or has the mortgagor's assent; a long-term lease at low rent over valuable urban property did not satisfy that standard, so it ended with extinction of the mortgagee's interest and did not bind the purchaser. Because the mortgage debt had been satisfied and the mortgagee's interest had ceased, the derivative tenancy also ended and the tenants could not invoke protection under the East Punjab Urban Rent Restriction Act, 1949. The mesne profits fixed at the premises' actual rent were also upheld, there being no sufficient reason to disturb that assessment. Case-Laws Indian Laws Fri, 26 Sep 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279752