In Brief
A tenant sought to prevent a bank from taking possession of a mortgaged residential flat under SARFAESI Act proceedings, claiming to be a protected tenant under an oral tenancy agreement. The Supreme Court dismissed the appeal, holding that the tenant's claim lacked credible evidence and appeared designed to defeat debt recovery. The Court clarified that oral tenancies can only subsist for one year unless supported by a registered deed, and any tenancy created after the bank's notice under the SARFAESI Act is barred. The tenant was ordered to vacate within 12 weeks, affirming that the SARFAESI Act's expeditious recovery mechanism prevails, except where a genuinely valid pre-existing lease existed before the mortgage was created."
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