https://www.taxtmi.com/caselaws?id=767466 Bombay HC ruled in favor of plaintiff seeking declaration as exclusive first charge holder over two properties. Court held that subsequent mortgages created by defendants without plaintiff's written approval violated terms of prior mortgage agreement. Since plaintiff's mortgage was prior in time and contained restrictive covenants prohibiting further encumbrances without consent, the impugned mortgages were deemed voidable. Court applied precedents from SC cases and granted interim relief under Specific Relief Act, preventing defendants from using invalid mortgages to defeat plaintiff's exclusive rights in recovery proceedings. en-us Wed, 12 Feb 2025 00:00:00 +0530 Wed, 19 Mar 2025 06:45:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767466 Bombay HC ruled in favor of plaintiff seeking declaration as exclusive first charge holder over two properties. Court held that subsequent mortgages created by defendants without plaintiff's written approval violated terms of prior mortgage agreement. Since plaintiff's mortgage was prior in time and contained restrictive covenants prohibiting further encumbrances without consent, the impugned mortgages were deemed voidable. Court applied precedents from SC cases and granted interim relief under Specific Relief Act, preventing defendants from using invalid mortgages to defeat plaintiff's exclusive rights in recovery proceedings. Case-Laws IBC Wed, 12 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767466