Having held hereinabove that security interest created was in agricultural land, we have no hesitation to hold that all the proceedings initiated under the SARFAESI Act are nullity, as the security interest in agricultural land cannot be enforced inasmuch as the same is exempted under the provisions of Section 31(i)
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATE OF DECISION: 05.04.2016
CORAM:
THE HON'BLE MR.JUSTICE SATISH K. AGNIHOTRI
AND
THE HON'BLE MR.JUSTICE M.VENUGOPAL
W.P. Nos.26633 and 32208 of 2014 and M.P. Nos.1 & 1 of 2014
W.P. No.26633 of 2014:
A. Akthar Hussain Petitioner
Vs.
K. Pappireddiyar
Citation:AIR 2016 Madras 114
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