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Isha (Associate)     25 April 2014

Debt recovery - agricultural land

Dear Experts,

With respect to an agricultural land, do we consider the land records as the document to substantiate the point that a land is agricultural or do we consider the present usage of the land to determine its character? 

I am also looking for judgments (if any) which has dealt on agricultural lands before the debts recovery tribunal, high courts or supreme court wherein the secured creditor has been allowed to take securitisation steps and has also dealt in extensively on the topic of agricultural lands. 

Thanks



Learning

 3 Replies

Advocate Ajit Kumar Shrivasta (Partner)     25 April 2014

Dear Isha

The present use of the land determines its character for the purpose of SARFAESI Act.

You may refer to the following judgment:-

Bijender Kr Gupta vs Corporation Bank Of India
 
Thanks
1 Like

Isha (Associate)     25 April 2014

Thanks Ajit!

T. Kalaiselvan, Advocate (Advocate)     27 April 2014

Learned Advocate Mr. A K Srivastava has rightly opined the concept, I agree with him.


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