Legal Question in Banking Law in India
agricultural land can be taken for mortgages for commercial loan under sarfesi act
Asked on 6/25/13, 11:04 pm
2 Answers from Attorneys
J. Radhakrishnan
independent Practice
While it is upto the bank to decide whether or not an agricultural land as a mortgage for the loan, the same cannot be proceeded under SAaRFAESI Act.
Answered on 6/26/13, 5:43 am
Fca Prashant Chavan
Expert Edge LLP
27.06.2013
Dear Sir / Madam,
If you in the expansion mode of your business, you should decide whether you wish to mortgage your agricultural land to the bank for obtaining a commercial loan for purchase of plant and machinery for your business.
Regards,
Answered on 6/26/13, 7:25 pm
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