(4)[ Where the rights of a mortgagee in possession are vested in the Government] [Substituted by Act No. 17 of 1972.] -(i)Where the ownership of the land mortgaged [has vested in the Government] [Substituted by Act No. 17 of 1972.] the mortgagee shall be treated as a holder of an encumbrance in respect of the land, and the encumbrance shall be discharged as provided in Sections 91 and 92;(ii)in other cases, the Government shall pay to the mortgagee the amount to which he would have been entitled under clause (i) if the ownership of the land mortgaged (Iliad vested in) the Government, and hold the land as mortgagee with possession with all the rights and liabilities of the mortgagee.
