Kerala Financial Corporation, ... vs Syndicate Bank, Calicut And Ors. on 8 February, 1999
11. The Calcutta High Court in Kaiser Khan v. Abdul Ghani, AIR 1942 Cal 138 has ruled that a purchaser in execution of a mortgage decree acquires property as it existed on the date of sale, discharged of the mortgage lien, but subject to the rights of the parties like the puisne mortgagee who was omitted from the suit. In other words, the title acquired by such purchaser is subject to the right of the puisne mortgagee, viz. the right of redemption. And, puisne mortgagee cannot be compelled to pay the purchase money which the purchaser had to pay and may be allowed to redeem on the basis of the mortgage decree obtained by the prior mortgagee.