Whether a Bank is entitled to seek eviction of tenants from a Secured Asset taken over by the Bank for sale for realising its dues – Mr. Mohan Sundaram Vs. Punjab National Bank – Kerala High Court
The question is as to the locus standi of the Bank to institute the application for eviction as a landlord. Hon’ble High Court held that a reading of the Section 13(4) and 13(5) of the SARFAESI Act would indicate beyond doubt that a secured creditor in terms of the said provision is empowered to do all that is possible for realising the secured asset. If that be so, it cannot be said that a secured creditor is not empowered to initiate proceedings for eviction of a tenant from a secured asset as part of the secured creditor’s right to realise the same.