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Tenancy right entered into on basis of oral agreement is barred; directed to handover possession to bank

September 13, 2019[2019] 109 taxmann.com 171 (SC)
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FEMA, INSURANCE & BANKING: Where there was no evidence to establish tenancy of property by borrower to appellant-tenant which was based on oral agreement and not supported by registered instrument, tenancy was not bona fide and appellant-tenant was directed to deliver possession of property to mortgagee bank

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