Mortgagee Has Inherent Right to Auction Property Publicly in Case of Payment Default: Punjab & Haryana High Court

The Punjab & Haryana High Court has reinforced the mortgagee's inherent right to sell a mortgaged property through public auction if the borrower fails to make the necessary payments. In a ruling delivered by Justice Sureshwar Thakur and Justice Vikas Suri, the court emphasized that when a borrower defaults on payment, the mortgagee has the legal right to sell the property to recover dues. The judges stated, "there is an…