Section 68 The Transfer of Property Act, 1882

 

 Section 68 The Transfer of Property Act, 1882: 

Right to sue for mortgage-money.—

(1) The mortgagee has a right to sue for the mortgage-money in the following cases and no others, namely:—

(a) where the mortgagor binds himself to repay the same;

(b) where, by any cause other than the wrongful act or default of the mortgagor or mortgagee, the mortgaged property is wholly or partially destroyed or the security is rendered insufficient within the meaning of section 66, and the mortgagee has given the mortgagor a reasonable opportunity of providing further security enough to render the whole security sufficient, and the mortgagor has failed to do so;

(c) where the mortgagee is deprived of the whole or part of his security by or in consequence of the wrongful act or default of the mortgagor;

(d) where, the mortgagee being entitled to possession of the mortgaged property, the mortgagor fails to deliver the same to him, or to secure the possession thereof to him without disturbance by the mortgagor or any person claiming under a title superior to that of the mortgagor: Provided that, in the case referred to in clause (a), a transferee from the mortgagor or from his legal representative shall not be liable to be sued for the mortgage-money.

(2) Where a suit is brought under clause (a) or clause (b) of sub-section (1), the Court may, at its discretion, stay the suit and all proceedings therein, notwithstanding any contract to the contrary, until the mortgagee has exhausted all his available remedies against the mortgaged property or what remains of it, unless the mortgagee abandons his security and, if necessary, re-transfers the mortgaged property.

Supreme Court of India Important Judgments And Leading Case Law Related to Section 68 The Transfer of Property Act, 1882: 

Brij Raj Singh (Dead) By L. Rs. & Ors vs Sewak Ram & Anr on 22 April, 1999

Babulal Badriprasad Varma vs Surat Municipal Corpn. & Ors on 2 May, 2008

Manimala Devi vs Indu Bala Debya & Ors on 3 December, 1963

Dasaudha Singh & Ors. Etc. Etc vs State Of Haryana & Ors on 16 November, 1972

Jaswant Singh Mathura Singh And  vs Ahmedabad Municipal Corporation on 1 October, 1991

State Bank Of India vs Indexport Registered And Ors on 30 April, 1992

Govindbhai Chhotabhai Patel vs Patel Ramanbhai Mathurbhai on 23 September, 2019

Pratap Chand vs Ram Narayan And Another on 22 February, 1961

Mathuralal vs Keshar Bai And Another on 20 February, 1970

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