332. Effect of steps taken by mortgagee.

332.     Effect of steps taken by mortgagee.

If the mortgagee himself demands payment or takes steps to realise his security, whether the time fixed by the mortgage deed for redemption has arrived or not1, or consents to a sale of the mortgaged property in administration proceedings2 or to payment of his debt out of a fund in court3, he is not entitled to the usual six months' notice or interest even though, after he has taken proceedings to recover his debt, the mortgagor has given him notice of intention to pay in six months4. The following are