‘Can’t allow borrowers to wiggle out of liability by using tenancy mechanism’; Allahabad HC directs grant of secured asset’s possession to Axis Bank
“Once an order has been passed under Section 14 of the SARFAESI Act, the authorities are required to act in pursuance of the same and as per the provisions of the Act. The mechanism used by the borrowers to wiggle out of their liability cannot be countenanced by us.”