Classification Of Land In Revenue Records Not Dispositive Or Conclusive Of Question On Applicability Of SARFAESI Act: SC [Read Judgment]

‘Whether a parcel of land is agricultural must be deduced as a matter of fact from the nature of the land, the use to which it was being put on the date of the creation of the security interest and the purpose for which it was set apart.’The Supreme Court in Indian Bank vs K Pappireddiyar has observed that the classification of land in the revenue records as agricultural is not dispositive. ‘Whether a parcel of land is agricultural must be deduced as a matter of fact from the nature of the land, the use to which it was being put on the date of the creation of the security interest and the purpose for which it was set apart.’ The Supreme Court in Indian Bank vs K Pappireddiyar has observed that the classification of land in the revenue records as agricultural is not dispositive or conclusive of the question whether the SARFAESI Act does or does not apply. “The classification of land in the revenue records as agricultural is not dispositive or conclusive of the question whether the SARFAESI Act does or does not apply. Whether a parcel of land is agricultural must be deduced as a matter of fact from the nature of the land, the use to which it was being put on the date of the creation of the security interest and the purpose for which it was set apart,” the bench said.