https://www.taxtmi.com/caselaws?id=767466 A subsequent mortgage executed in breach of an earlier mortgage's express no-encumbrance covenant, and before the required consent or no-objection was issued, was treated as prima facie voidable at the instance of the prior mortgagee. The Court held that Section 31 of the Specific Relief Act, 1963 supported interim protection because continued reliance on the impugned mortgages could seriously prejudice the prior mortgagee's enforcement rights. It also held that Section 60(5) of the Insolvency and Bankruptcy Code, 2016 did not oust jurisdiction where the dispute concerned the legality of the mortgages themselves, rather than only inter se priority in insolvency. en-us Wed, 12 Feb 2025 00:00:00 +0530 Tue, 18 Mar 2025 17:58:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767466 A subsequent mortgage executed in breach of an earlier mortgage's express no-encumbrance covenant, and before the required consent or no-objection was issued, was treated as prima facie voidable at the instance of the prior mortgagee. The Court held that Section 31 of the Specific Relief Act, 1963 supported interim protection because continued reliance on the impugned mortgages could seriously prejudice the prior mortgagee's enforcement rights. It also held that Section 60(5) of the Insolvency and Bankruptcy Code, 2016 did not oust jurisdiction where the dispute concerned the legality of the mortgages themselves, rather than only inter se priority in insolvency. Case-Laws IBC Wed, 12 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767466