275+ Lawyers are online 
How to get compensation for losses from owner of building
09-Aug-2023 (In Landlord/Tenant Law)
I ENTERED AN UNREGISTERED RENTAL AGREEMENT FOR FIVE YEARS IN THE YEAR 2014 TO RUN AN INDUSTRY.ACTUALLY THAT BUILDING WAS UNDER MORTGAGE WITH A BANK. THE MATTER WAS SUPPERESED BY THE BUILDING OWNER.NOW THE BANK TOOK POSSESSION UNDER SURFASI ACT,AND SEALED THE SAME IN THE MONTH OF FEB 2015..MY MACHINERIES ARE INSIDE THE BUILDING TIL DATE... HOW COULD I GET THE MACHINERS, AND COMPENSATION FOR THE LOSSES FROM THE OWNER OF THE BUILDING. IS IT CRIMINAL OFFENCE.
The Supreme Court has held that the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) will not override various Rent Control laws enacted by State governments to the disadvantage of a tenant.
The ruling came on January 20 in the case of Vishal N Kalsaira v. Bank of India & Ors.
There is an interest of the bank in recovering the Non-Performing Asset on the one hand, and protecting the right of the blameless tenant on the other. The Rent Control Act being a social welfare legislation, must be construed as such. A landlord cannot be permitted to do indirectly what he has been barred from doing under the Rent Control Act, more so when the two legislations, that is the SARFAESI Act and the Rent Control Act operate in completely different fields….
The provisions of the SARFAESI Act cannot be used to override the provisions of the Rent Control Act. If the contentions of the learned counsel for the respondent Banks are to be accepted, it would render the entire scheme of all Rent Control Acts operating in the country as useless and nugatory. Tenants would be left wholly to the mercy of their landlords and in the fear that the landlord may use the tenanted premises as a security interest while taking a loan from a bank and subsequently default on it…
You can approach DRT and get a stay to the operation of the bank's act and get your goods released besides other reliefs.
The ruling came on January 20 in the case of Vishal N Kalsaira v. Bank of India & Ors.
There is an interest of the bank in recovering the Non-Performing Asset on the one hand, and protecting the right of the blameless tenant on the other. The Rent Control Act being a social welfare legislation, must be construed as such. A landlord cannot be permitted to do indirectly what he has been barred from doing under the Rent Control Act, more so when the two legislations, that is the SARFAESI Act and the Rent Control Act operate in completely different fields….
The provisions of the SARFAESI Act cannot be used to override the provisions of the Rent Control Act. If the contentions of the learned counsel for the respondent Banks are to be accepted, it would render the entire scheme of all Rent Control Acts operating in the country as useless and nugatory. Tenants would be left wholly to the mercy of their landlords and in the fear that the landlord may use the tenanted premises as a security interest while taking a loan from a bank and subsequently default on it…
You can approach DRT and get a stay to the operation of the bank's act and get your goods released besides other reliefs.
Helpful?
16+
16+
Adv. T Kalaiselvan
Vellore | 400+ Answers
Chat
Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
Connect with top Landlord/Tenant lawyers for your specific legal issue
No Comments! Be the first one to comment.
"lawrato.com has handpicked some of the best Legal Experts in the country to help you get practical Legal Advice & help."
