Supreme Court of India
M/s. L.K. Trust v. Edc Ltd. & Ors.
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1 Supreme Court bench has cited this judgment.
What the Court ordered
For the foregoing reasons the appeals as well as the Contempt Petition fail and are dismissed.
Judgment, page 42
From the headnote
Transfer of Property Act, .1882 - ss. 60 and 54 - Right of redemption - Nature and scope of - When can be exercised and when extinguished - Held: Right of redemption is a statutory right - mortgage being a security for the debt, the right of redemption continues although the mortgagor fails to pay the debt on the due date - Any provision inserted to prevent, evade or hamper redempti<y1 is void - Right of redemption is an incident of a subsisting mortgage and o subsists so long as the mortgage itself subsists - It stands extinguished on execution of conveyance and the registration of transfer
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