Legal Question in Banking Law in
i am a tenant under the person who was taken loan from bank and he is a defaulter to the loan transaction to the bank now the bank taking action under securitisation act 2002 and they want to take possession from me can they take the possession of the property which now in my possession without an court order to such
Asked on 12/28/10, 8:30 am
2 Answers from Attorneys
Vishwa Arya
Arya & Co.
no they cannot, they can at the most attach the rent you were paying
Answered on 12/28/10, 10:59 am
J. Radhakrishnan
independent Practice
If the tenancy is created after the mortgage by your landlord to the Bank, then the bank can take possession. In case they issue possession notice, file application under Sec.17 to the DRT to protect your tenancy rights and offer to pay future rents to the Bank.
Answered on 12/28/10, 7:07 pm
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