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

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]

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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