SECURITY INTEREST ON AGRICULTURE LAND UNDER SARFAESI ACT
Section 31(i) under SARFAESI Act : Such provision is intended to protect agriculture land held for agriculture purpose by agriculturist from extraordinary provisions of this Act, which provide for enforcement of security interest without intervention of the court. It simply means that the creditor can not enforce any security interest created in his favor without the intervention of the court or Tribunal if such security interest is created in the Agriculture land. It was argued that the Central Government can not legislate on the suject of the Land because it comes under List II, but this Court suggested to go for entry 45 of the List I and mentioned the following case laws: In A.S. Krishna and Ors. v. The State of Madras41 this Court observed as follows:- “It would be quite an erroneous approach to the question to view such a statute not as an organic whole, but as a mere collection of sections, then disintegrate it into parts, examine under what heads of leg