https://www.taxtmi.com/caselaws?id=458389 Security interest created in agricultural land is statutorily excluded from SARFAESI enforcement under Section 31(i), so the Act's possession and recovery machinery cannot be invoked against such land. Because the secured asset was undisputedly agricultural land, the District Magistrate's order passed within the SARFAESI framework was unsustainable and had to be set aside. The availability of other remedies to the secured creditor did not alter the statutory exclusion or validate action under the Act against agricultural land. en-us Fri, 29 May 2020 00:00:00 +0530 Thu, 24 Oct 2024 19:42:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458389 Security interest created in agricultural land is statutorily excluded from SARFAESI enforcement under Section 31(i), so the Act's possession and recovery machinery cannot be invoked against such land. Because the secured asset was undisputedly agricultural land, the District Magistrate's order passed within the SARFAESI framework was unsustainable and had to be set aside. The availability of other remedies to the secured creditor did not alter the statutory exclusion or validate action under the Act against agricultural land. Case-Laws Indian Laws Fri, 29 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458389