JUDGMENT :

The petitioner is a Banking Company constituted under the Banking Companies (Acquisition & Transfer of Undertakings) Act, 1970. It has approached this Court being aggrieved by Ext.P7 order of the Chief Judicial Magistrate Court, Alappuzha, in proceedings under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (hereinafter referred to as the ‘SARFAESI’ Act) Act.

2. The petitioner, a secured creditor in respect of a loan availed by the 1st respondent, brought to sale an item of property in which the 3rd respondent claims to be a tenant under the provisions of the SARFAESI Act. The property was purchased by the 4th respondent. The application filed by the petitioner under Section 14 of the SARFAESI Act for obtaining vacant possession of the property has been rejected by the learned Magistrate finding inter alia the rights of the tenant cannot be defeated by the provisions in the SARFAESI Act. The learned Magistrate has concluded that the tenancy was created much before the creation of the mortgage, and therefore such tenants cannot be evicted by reporting to proceedings under Section 14 of the SARFAESI Act.

3. The