In Brief
PNB Housing Finance Ltd sought to recover a secured property under SARFAESI after the borrower defaulted on a loan. The tenant occupying the property claimed it was protected under West Bengal rent laws and sought restoration of possession after the bank took it over. The Supreme Court held that the tenant failed to produce convincing evidence (rent receipts, tax documents) of prior tenancy despite claiming occupancy since 1987. The Court emphasized that tenants must produce corroborating evidence and act promptly upon seeing possession notices. Since the tenant delayed approaching the tribunal and lacked substantive proof, the Court allowed the bank's appeal and directed completion of the securitization proceedings within two months.
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