sarfaesi act

AJEET KUMAR (Querist) 30 April 2011 This query is : Resolved
If ST land is auctioned under SARFAESI ACT in favour of a bidder who is general in cast. Whether the same auction will be legal or not.

Follow Query

Report Abuse

malipeddi jaggarao (Expert) 01 May 2011
The Financial Institution can not accept such properties as collateral security. If accepted they are subjected to the native laws applicable. The bidder can not get a clear title of the property.

Advocate. Arunagiri (Expert) 01 May 2011
The commercial banks will not mortgage the property of the ST land and also any agricultural land.

Guest (Expert) 01 May 2011
It depends upon any special law applicable in any particular state for sale, urchase or mortgage of ST land. You have not provided detail of the case and the state to which it belongs. Any general reply to a general query cannot help in specific cases.

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries