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.
Answered on 6/05/10, 7:10 am
Sudershan Goel
India Law Offices of Sudershan Goel - Advocate
No, it doe not mean that agricultural land cannot be mortgaged.
Answered on 6/07/10, 12:01 am
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