Section 31
Transmission of interest in mortgage in certain circumstances.
The Merchant Shipping Act, 2025
About this Act
An Act to consolidate and amend the law relating to merchant shipping to ensure compliance with India's obligation under the maritime treaties and international instruments to which India is a party and also to ensure the development of Indian shipping and efficient maintenance of Indian mercantile marine in a manner best suited to serve the national interest and for matters connected therewith or incidental thereto.
The transmission of the interest of a mortgagee in a vessel or share on death, or insolvency, or by any lawful means other than by a transfer under this Act shall be in accordance with such procedure and subject to such conditions as may be prescribed.