The All India Reporter 1953 - Kutch Section Citation: A.I.R. (40) 1953 Kutch

Though the appellant was interested in maintaining that the second part of the preliminary decree was a decree as defined by law it became unnecessary to decide that question in view of the withdrawal and in view of the fact that the appellant has not preferred the present appeal from that part of the decree. [...] The characteristics of a usufructuary mortgage are as follows: (1) possession of the mortgaged property is delivered to the mortgagee (2) the mortgagee is to appropriate rents and profits of the property in lieu of interest or of principal or of both (3) the mortgagor does not incur any personal liability to repay the money -(4) the mortgagee is not entitled to foreclose or to sue for sale. [...] The transaction known as Vatantar in Kutch is a usufructuary mortgage which comes within the purview of the inclusive part of the definition of the term debt given in section 2 of the Bombay Act and the money for which the transaction was effected is a debt for the adjustment of which an application under section 4 of the Act can be made. [...] If vatantar is a usufructuary mortgage it will come within the purview of the inclusive part of the definition of the term debt given in section 2 of the Act and the money for which the transaction was. [...] (7) Now, the characteristics of a usufructuary mortgage are as follows: (1) possession of the mortgaged property is delivered to the mortgagee; (2) the mortgagee is to appropriate rents and profits of the property in lieu of interest or of principal or of both; (3) the mortgagor does not incur any personal' liability to repay the money; (4) the mortgagee is not entitled to foreclose I or to sue fo