In Brief
The appellants purchased mortgaged property and filed a redemption suit after the mortgagor defaulted and the bank foreclosed. However, the auction sale had already been completed, a sale certificate issued to the auction purchaser, and possession delivered—all before the redemption suit was filed. The Supreme Court held that the right to redeem is extinguished by a decree of foreclosure and issuance of a sale certificate under the proviso to Section 60 of the Transfer of Property Act. Once the sale is confirmed, there remains no mortgaged property to redeem. The purchasers' rights could be no better than the mortgagor's, and both were barred from claiming redemption after the sale certificate was issued. The appeals were dismissed.
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