Supreme Court of India
Indian Bank & Anr. v. K Pappireddiyar & Anr.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We are of the view that it would be appropriate and proper to set aside the judgment of the High Court and to remit the proceedings for being considered afresh.
Judgment, page 7
From the headnote
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 - ss. 31(i), 2(zf) – Security interest created in agricultural land – Applicability of SARFAESI Act – Held: 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…
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