Section 69A(2) in The Transfer Of Property Act, 1882
(2)Any person who has been named in the mortgage-deed and is willing and able to act as receiver may be appointed by the mortgagee.If no person has been so named, or if all persons named are unable or unwilling to act, or are dead, the mortgagee may appoint any person to whose appointment the mortgagor agrees; failing such agreement, the mortgagee shall be entitled to apply to the Court for the appointment of a receiver, and any person appointed by the Court shall be deemed to have been duly appointed by the mortgagee.A receiver may at any time be removed by writing signed by or on behalf of the mortgagee and the mortgagor, or by the court on application made by either party and on due cause shown.A vacancy in the office of receiver may be filled in accordance with the provisions of this sub-section.
