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MOHAMMED PEER (BUSINESS)     16 October 2021

Bank's notice to acquire property - lessee's affliction

Hello,

I request the legal opinion of the experts here on the following matter:

I have taken a house on Lease basis . The Owner of the property has leased out all the three floors of the building and taken a bank loan (bank  being a co-operative society) too  against that property.  The owner has not paid the principal nor the interest to the bank which has resulted in NPA. The owner has gone bankrupt and talks of his helplessness.  The owner is a state government employee.

Now the bank has issued us a notice to vacate the house within a week to acquire the same.

Please suggest us the action plan as to how can we get back our deposit amount. 

Our woes are surmounting, pls help us with the legal opinion.

awaiting for the response.

Best regards

PEER



 3 Replies

Dr J C Vashista (Lawyer)     17 October 2021

Can a Bank advance loan for a property under lease ? If so, whether the lease deed is registered and for how much period the lease has been granted. 

Can a government employee be declared "bankrupt" ?

G.L.N. Prasad (Retired employee.)     17 October 2021

Contact a local advocate and issue a notice to the bank about the deposit and enclose copies of the relevant documents.   Depending on the reply, the local advocate may protect your interests.

1 Like

P. Venu (Advocate)     18 October 2021

Is the lease registered?  If so, the tenant can approach DRT. The settled legal position is that the tenant can get injunction againat the Bank protecting the tenancy till the completion of the lease period.

1 Like

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