SARFESAI
amritinder
(Querist) 11 August 2010
This query is : Resolved
A property outside municipal limits with permanent building construvted is actually used as commercial building (ware house /office) on a land which is agricultural land as per tittle deed but as per report from revenue officer the same has been classified as non cultivable land there is no cultivation in the land and the land is used purely as commercial with NOC from village panchayat for construction of building and commercial usage No approval from local body not from town planning department
In this circumstance, the owner of the property gets loan from bank and he mortgaged the same property as security to the loan. Subsequently the loan become NPA. In this circumstance the bank can attach the property under SARFAESI, even though property is classified as agricultural land as per tittle deed , there is no cultivation and there is building and factory. If any bank favorable judgement of Supreme Court, kindly give me.
s.subramanian
(Expert) 11 August 2010
when it has been classified as non cultivable by the appropriate authority,the bank can proceed against the said land.
amritinder
(Querist) 12 August 2010
Sir , can i get any SC judgement in support of this
