Legal Question in Real Estate Law in India
Hello to all experts
A Land is owned by a Company in State of Gujarat. N.A. Permission in respect of said land dated 20-12-1997 for residential purpose is granted by District Collector under Section 65 of Bombay Land Revenue Code 1879. The N.A. Permission is granted with stipulations that
(1) Construction should be started within six months and completed within 3 years
(2) when construction is started it has to be informed within one month to the collector
(3) renewal of N.A. Permission within a reasonable time.
The Co. has not carried out construction within six months and till date no constructed has been done.
My Query is as follows :
(1) As no construction has been carried out is the the N.A. permission dated 20-12-1997 should be considered as elapsed., the occupant has not received any notice.
(2) The above mentioned land is mortgaged to the Bank as Security for financial assistance granted by the Bank. Now if the Mortgagor commits any default in repayment can Bank enforce the security.
(3) What steps are required to be taken by the Bank in order to secure or protect its interest.
(4) Whether Bank can ask/force the Occupant to get the N.A. permission renewed. Whether it can be renewed
(5) What is the status of the land in this case, will it be considered as agricultural land
(6) What legal steps are required to be taken by the Bank
2 Answers from Attorneys
contact a local lawyer.
1. N.A. Lapse. No notice is contemplated.
2. Bank may enforce.
3. As per law like securitazation, attachment etc.
4. May not.
5. May be.
6. Same as Sr.No.4.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
