Sarfase act

pandarinath (Querist) 02 April 2012 This query is : Resolved
what is the definition of agricultural land under sarfase act please define

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Raj Kumar Makkad (Expert) 02 April 2012
Agricultural commodity word is used in Act which means (a) Agricultural produce or commodities including products of dairy, animal husbandry, aquaculture, horticulture, floriculture, other plantations and other farm products.

Anirudh (Expert) 03 April 2012
Dear Mr. Makkad,
The querist wants to know the definition of "agricultural land" and not "Agricultural Commodity".

Nadeem Qureshi (Expert) 03 April 2012
Dear Querist
Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 does not define the term 'agricultural land' and the object of the Act has to be borne in mind and the term 'agricultural land' cannot be given liberal and wide interpretation and the question as to whether secured asset is an agricultural land or not, cannot be gone into and decided by the Court.
feel free to call

Raj Kumar Makkad (Expert) 03 April 2012
Sudhir Sir! The Act do not disclose the desired definition which has already been clarified by me.

pandarinath (Querist) 03 April 2012
thanq for your valuble suggesion

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