Karachiwalla v Nanji and Others (Civil Appeal No. 6 of 1955)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The Court held that once mortgage money becomes payable due to the mortgagor's default, section 67 of the Indian Transfer of Property Act 1882 entitles the mortgagee to obtain a court order for sale of the mortgaged property. The Court further held that no concluded compromise existed where the settlement was dependent on execution of a fourth mortgage which was never completed. Appeal dismissed.
Outcome
Preliminary decree for sale of mortgaged property upheld
Facts
The appellant mortgaged three parcels of land on Mombasa Island through three successive mortgages dated 29 October 1951. The first mortgage to the second respondent secured Sh. 84,000, the second mortgage to the assignor of the third respondent secured Sh. 21,623, and the third mortgage to the first respondent secured Sh. 150,000 with varying interest rates. The third mortgage contained covenants requiring the mortgagor to pay instalments, maintain insurance, pay ground rent and municipal rates, and keep current the obligations under the first and second mortgages. Clause (e) provided that upon default the mortgagee could demand immediate repayment after giving five weeks' written notice. The mortgagor defaulted on multiple obligations. On 2 July 1953 the first respondent sent the prescribed notice. The mortgagor failed to comply and the first respondent filed suit on 8 August 1953 claiming the principal sum, interest, and an order for sale. The Supreme Court passed a preliminary decree for sale on 21 January 1955.
Issues
- Whether a right to sell mortgaged property had arisen by reason of the mortgagor's default under section 67 of the Indian Transfer of Property Act 1882.
- Whether the suit had been compromised after its institution and before judgment.
Orders
- Appeal dismissed.
- Costs awarded to the respondents.
Rules and key headnotes
Legislation cited (1)
- Indian Transfer of Property Act 1882 s.67
Cases cited (6)
- Williams v Morgan [1906] 1 Ch 804
- Edwards v Martin (1856) 25 LJ Eq 283
- Kidderminster Mutual v Haddock [1936] WN 158
- Bolton v Buckenham [1891] 1 QB 278
- Forbes v Git [1922] 1 AC 256 (PC)
- Yoe Htean Sew v Abu Zaffer Koreeshee (1900) 27 IA 98
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.