Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Act(s) Referred | Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002) |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Allowed |
Headnote | Securitisation and Reconstruction of Financial Assets andEnforcement of Security Interest Act, 2002 - ss. 31(i), 2(zf) – Securityinterest created in agricultural land – Applicability of SARFAESIAct – Held: Classification of land in the revenue records asagricultural is not dispositive or conclusive of the question whetherthe SARFAESI Act does or does not apply – Whether a parcel ofland is agricultural must be deduced as a matter of fact from thenature of the land, the use to which it was being put on the date ofthe creation of the security interest and the purpose for which itwas set apart – On facts, in the absence of a specific finding, theholding of the High Court that the proceedings initiated by the bankunder the SARFAESI Act are nullity as the Act does not apply toagricultural land, thus, security interest in agricultural land cannotbe enforced, set aside – Proceedings remitted back for beingconsidered afresh. |
Judge | Hon'ble Dr. Justice D.Y. Chandrachud |
Neutral Citation | 2018 INSC 626 |
Petitioner | Indian Bank & Anr. |
Respondent | K Pappireddiyar & Anr. |
SCR | [2018] 6 S.C.R. 611 |
Judgement Date | 2018-07-20 |
Case Number | 6641 |
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