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Karnataka HC: Coffee Estates Not Excluded from Application of SARFASEI Act - (05 Feb 2021)

BANKING

Karnataka High Court has held that the banks and other financial institutions can invoke provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 to recover loans borrowed by mortgaging coffee estates, declaring that the expression ‘agricultural land’ in the Act does not include lands on which plantation crops such as coffee are grown.

Tags : KARNATAKA HIGH COURT   COFFEE ESTATES  

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