Legal Question in Banking Law in India

Respected Sir,

My querry goes as follows:

Facts:

1. We have rented one shop on which the tenant taken loan on hypothecation of stocks. However we do not have any tenancy agreement nor we have given any rent receipt to him nor we have given any no objection to bank in this regard.

2. He became defaulter and the bank sealed his stock and our premises under SARFAESI Act some 4 years before.

3. After settlement the tenant paid the dues in the some 3 years before.

4. After settlement neither bank nor the tenant took any steps towards opening of sealed shop and stocks.

5.That now on my intervention, being the owner of the premises, bank wriiten letters to the tenant to come and get charge of his stocks otherwise bank will appoint me as custodian of stock and open the shop.

6. The tenant is now not coming up to take the charge of seizes assets and has moved to high court and filed WP(C) claiming that bank cannot open the shop and hand over it to me.

7. He is claiming several loses from bank for delay in releasing the stocks.

Querry

What is my status.

I have rented my shop and not getting rent since last 4 years.

How can I get my shop vacated.

I do not wish to put myself in tenant bank problems.

My interest is to get the shop vacated at once.

I do not wish to go for Eviction Suit as it may further take lot of time

Is there any other legal remedy available.

Can i charge bak also.

Can I sue my tenant?

kindly suggest any other legal method, if possible.

regards


Asked on 2/25/10, 12:13 am

1 Answer from Attorneys
J. Radhakrishnan independent Practice

You don't have any option other than going for eviction suit and for recovery of arrears of rent, and in that suit pray for appointment of receiver to take possession of the stocks , sell the same and deposit the proceeds to the credit of the suit. No soft options are available.

Read more
Answered on 3/09/10, 6:06 pm


Related Questions & Answers

More Banking Law questions and answers in India