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" BANKING LAWS RELATING TO FORECLOSURE   BANKING LAWS RELATING TO FORECLOSURE AND SALE OF MORTGAGED PROPERTY   BY Hamza I. Ali, Barrister-at-Law, Karachi   The law governing mortgages is embodied in Chapter IV of Transfer of Property Act, 1882' which is spread over sections 58 to 104. Right to foreclosure or sale is specifically provided in section 67 of the said Act which reads as follows:-‑   "67. Right to foreclosure or sale.---In the absence of a contract to the contrary, the mortgagee has at any time after the mortgage-money become due to him, and before a decree has been made for the redemption of the mortgaged property, or the mortgage-money has been paid or deposited as hereinafter provided, a right to obtain from the Court a decree that the mortgagor shall be absolutely debarred of his right to redeem the property, or a decree that the property be sold.   A suit to obtain a decree that a mortgagor shall be absolutely debarred of his right to redeem the mortgaged property is called a suit for foreclosure.   Nothing in this section shall be deemed   (a) to authorize any mortgagee other than a mortgagee by conditional sale or a mortgagee under an anomalous mortgage by the terms of which he is entitled to foreclosure, to institute a suit for foreclosure, or an usufructuary mortgagee as such or a mortgagee by conditional sale as such to institute a suit for sale; or   (b) to authorize a mortgagor who holds the mortgagee's rights as his trustee or legal representative, and who may sue for a sale of the property, to institute a suit for foreclosure; or   (c) to authorize the mortgagee of a railway, canal or other work in the maintenance of which the public is interested, to institute a suit for foreclosure or…