All questions arising under the Act has to be decided by the Debts Recovery Tribunal under Section 17 of the SARFAESI Act. No matter who the applicant is, whether he is a borrower, guarantor or a third party, his remedy is only before the DRT. The cause of action to approach the DRT under section 17 of the said would arise only after any of the measures under section 13 (4) is taken by the secured creditor.
[font=""times new roman""]A lease deed executed by the previous lessor in favour of a tenant is a covenant running with the land and an auction purchaser who purchases the property is bound by the said covenant.[/font]
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[font=""times new roman""]Adv. Murtaza Najmi, Mumbai.
And if the tenant wants to protect his possession he can approach the DRT under section 17 of the SARFAESI Act restraining the bank and the auction purchaser from the evicting him except under due process of law.