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No Right To Redemption After Issuance Of Sale Certificate To Auction Purchaser

The Supreme Court, in Allokam Peddabbayya vs Allahabad Bank, has held that if the right to redeem stood extinguished by operation of law under proviso to Section 60 of the Transfer of Property Act, 1882, prior to the period of limitation, it cannot be contended that the right could nonetheless be enforced any time before the expiry of limitation of 30 years.

In the instant case, a suit for redemption of mortgage was decreed in favour of mortgagors. The high court upheld the appellate court reversal of the findings of trial court, holding that consequent to the auction sale and issuance of sale certificate along with possession delivered, the original mortgagors were no more the owners of the property and there stood no debt to be redeemed on the date of filing of the suit. 

The bench comprising Justice Ranjan Gogoi and Justice Navin Sinha observed that the right to enforce a claim for equity of redemption is a statutory right under the Act and it necessarily presupposes the existence of a mortgage.

 Article referred: http://www.livelaw.in/no-right-redemption-issuance-sale-certificate-auction-purchaser-sc-read-judgment/

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