Section 69A of TPA : Section 69A: Appointment Of Receiver

Explanation using Example

Imagine a scenario where Mr. Sharma has taken a loan from XYZ Bank, providing his property as collateral, and has signed a mortgage deed with the bank. Due to unforeseen circumstances, Mr. Sharma is unable to pay his mortgage payments. XYZ Bank has a power of sale under section 69 of the Transfer of Property Act, 1882, but before exercising this power, the bank decides to appoint a receiver to manage the property's income.

Following section 69A, the bank appoints Mrs. Gupta, a professional property manager whose name is mentioned in the mortgage deed, as the receiver. Mrs. Gupta's role is to collect rent from tenants, pay property taxes, and handl...

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