https://www.taxtmi.com/caselaws?id=279448 After adjudication in insolvency, the insolvent loses title to deal with vested property, so an equitable mortgage created thereafter is invalid and unenforceable. The doctrine of ostensible ownership does not protect the mortgagee where the insolvency scheme places the property in the receiver or court, the adjudication is published, and there is no legal duty on the receiver to take possession or mutate records. Acceptance of a composition scheme or alleged annulment does not by itself revest the property or validate the later mortgage. A plea that the receiver's purchaser was a benamdar also fails without affirmative proof. en-us Thu, 15 Feb 1979 00:00:00 +0530 Mon, 18 Mar 2019 12:17:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279448 After adjudication in insolvency, the insolvent loses title to deal with vested property, so an equitable mortgage created thereafter is invalid and unenforceable. The doctrine of ostensible ownership does not protect the mortgagee where the insolvency scheme places the property in the receiver or court, the adjudication is published, and there is no legal duty on the receiver to take possession or mutate records. Acceptance of a composition scheme or alleged annulment does not by itself revest the property or validate the later mortgage. A plea that the receiver's purchaser was a benamdar also fails without affirmative proof. Case-Laws Indian Laws Thu, 15 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279448