Moratorium Act 1932

Notwithstanding anything contained in the preceding provisions of this Part of this Act, any mortgagee in possession, who entered into possession on or before the twenty-sixth day of November, one thousand nine hundred and thirty, may exercise all or any of his rights, powers, and remedies under the mortgage without leave of the court—

Provided that, on the application of the mortgagor made within three months after the commencement of this Act, the court may, if in all the circumstances it thinks it just and equitable so to do, forbid the mortgagee from exercising any power of sale or of foreclosure and may otherwise make such order as to the exercise by the mortgagee of such rights, powers, or remedies as it thinks fit, and the mortgagee shall comply with any such order.