https://www.taxtmi.com/caselaws?id=343915 Land acquired by exchange was not treated as accession to mortgaged property because it was not a genuine addition to, or incorporation into, the mortgage security, and the original mortgaged identity was not preserved in the required sense. The 21 acres obtained in exchange therefore remained outside the mortgage sale process. At the same time, recovery could proceed first against the originally mortgaged 43 acres of item No. 6 and, if necessary, against properties Nos. 1 to 5 to satisfy HUDCO's dues. A further opportunity for settlement and repayment was also left open before coercive sale of the mortgaged assets. en-us Mon, 08 May 2017 00:00:00 +0530 Mon, 05 Jun 2017 07:11:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=343915 Land acquired by exchange was not treated as accession to mortgaged property because it was not a genuine addition to, or incorporation into, the mortgage security, and the original mortgaged identity was not preserved in the required sense. The 21 acres obtained in exchange therefore remained outside the mortgage sale process. At the same time, recovery could proceed first against the originally mortgaged 43 acres of item No. 6 and, if necessary, against properties Nos. 1 to 5 to satisfy HUDCO's dues. A further opportunity for settlement and repayment was also left open before coercive sale of the mortgaged assets. Case-Laws Indian Laws Mon, 08 May 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=343915