Dear Sri.Sagnik Sanyal, the citation affirms the postion that no notice is required to be given to the Borrower or tenant for obtaining Physical Possession orders. However, the question is as follows:
Bank sells the secured assets on "as is where is Basis". Delivery of possession to the successful bidder is only symbolic. After sale certificate is registered in favour of Bidder-Purchaser, he becomes absolute owner of the property. The dues of the Bank are fully satisfied by the sale proceeds of the auction. Tenants are in actual possesion of the property. Bank has to obtain actual possession by "due process of Law".
After satisfaction of the dues of the Bank, Creditor-debtor relationship ceases. Hence to obtain physical possession, whether the Bank can file petition-request before CMM to take physical possession? or Whether the Auction Purchaser is required ot file eviction suit?