Legal Question in Civil Litigation in India

SARFEASI Act does not apply to agricultural land, does it mean that agricultural land cannot be mortgaged?

Asked on 6/05/10, 6:53 am

2 Answers from Attorneys

J. Radhakrishnan independent Practice
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Agriculatural land can be mortgaged. But it cannot be sold privately by the Bank Mortgagee under SARFAEASI Act. It can have it sold through court/DRT proceedings in case of default, depending upon whether the outstanding is below or above Rs.10 Lakhs.

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Answered on 6/05/10, 7:10 am
Sudershan Goel Sudershan Goel - Advocate, International Visiting Scholar, USA [2008-10]
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No, it doe not mean that agricultural land cannot be mortgaged.

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Answered on 6/07/10, 12:01 am

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