NDLI: Bajarang Shyamsunder Agarwal Vs. Central Bank of India & Anr.

Content Provider	Supreme Court of India
e-ISSN	30484839
Language	English
Access Restriction	NDLI
Subject Keyword	Enforcement of security interest SARFASI ss. 13 14 17 and 35 Tenancy rights over secured interest
Content Type	Text
Resource Type	Law Judgement
Jurisdiction	India
Act(s) Referred	Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002)
Case(s) Referred	Referred Case 0 Referred Case 1 Referred Case 2 Referred Case 3 Referred Case 4 Referred Case 5
Case Type	Appeal
Court	Supreme Court of India
Disposal Nature	Appeal Dismissed
Headnote	Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002: ss. 13, 14, 17 and 35 – Tenancy rights over secured interest – Tenant, if protected from ejectment proceedings under the SARFAESI Act – On facts, secured asset mortgaged by borrower/landlord with the bank in equitable mortgage, to secure the credit facility – Failure of borrower/landlord to make the due repayment of the said credit facilities – Notice u/s. 13(2) to borrower/landlord demanding the payment due – Application u/s. 14 by the Bank seeking directions to take physical possession of the secured asset – Allowed by the Magistrate – Thereafter, application by the tenant seeking stay of the order passed for taking possession of the property – Rejected by the Magistrate holding that tenant being a tenant without any registered instrument is not entitled for the possession of the secured asset for more than one year from the date of execution of unregistered tenancy agreement – On appeal, held: Claim of bona fide tenancy of the tenant cannot be accepted, as there is no good or sufficient evidence to establish the tenancy – Records do not demonstrate that the tenant has been able to prove his status as a valid leaseholder to merit the protection sought for – Furthermore, when the SARFAESI Act proceedings were pending, the factum of tenancy was never revealed by the parties – Tenant himself pleaded that he was a tenant who had entered into an oral agreement, such tenancy impliedly does not carry any covenant for renewal – Such person occupying the premises, when the tenancy has been determined, can only be treated as a ‘tenant in sufferance’ – They do not have any legal rights and are akin to trespassers – Operation of the Rent Act cannot be extended to a ‘tenant–in–sufferance’ vis–a–vis the SARFAESI Act, due to the operation of s.13(2) read with s. 13(13) – Thus, tenant to hand over the possession of the secured asset within the stipulated time which would be delivered to the bank – Maharashtra Rent Control Act, 1999. Objective of SARFAESI Act, coupled with the Transfer of Property Act and the Rent Act – Requirement of reconciliation – Explained. s. 13 – Enforcement of security interest – Self–executory mechanism for the banks – Explained.
Judge	Honble Mr. Justice N.V. Ramana
Neutral Citation	2019 INSC 1017
Petitioner	Bajarang Shyamsunder Agarwal
Respondent	Central Bank Of India & Anr.
SCR	[2019] 12 S.C.R. 352
Judgement Date	2019-09-11
Case Number	1371

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Bajarang Shyamsunder Agarwal Vs. Central Bank of India & Anr.

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