M.R. SATWAJI RAO (D) BY LRS. vs B.SHAMA RAO(DEAD)BY LRS. .

The Supreme Court held that the relationship of mortgagor and mortgagee ceased to exist after the execution of a money decree in O.S. No. 120/51-52, which led to the auction sale of the mortgaged property. The Court found that the High Court erred in granting a decree for redemption under Order XXXIV Rule 14 CPC, as the mortgagors had not objected to the sale for over three decades. Consequently, the appeal was allowed, and the High Court's judgment was set aside, reaffirming the finality of the auction sale.