Home India Ministry of Finance Parliament Question: SARFAESI Act...
Date: 2025-12-08 Category: Not Applicable State: Union Government Country: India

Parliament Question: SARFAESI Act

Issued by Ministry of Finance · Not Applicable

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Executive Summary & Key Takeaways

**Executive Summary** This document is the response to Unstarred Question No. 1152 in Lok Sabha, concerning the SARFAESI Act and its application to coffee plantations. It outlines the government's stance on auctioning coffee plantations of overdue borrowers, the concerns of coffee growers regarding online auctions, and allegations of exploitation by Dubai-based traders. The response references court cases and the role of the SARFAESI Act in debt recovery. **Key Points / Main Content** * **SARFAESI Act Applicability**: * Section 31(i) of the SARFAESI Act, 2002 does not apply to security interests created in agricultural land. * However, the Karnataka High Court has ruled that "agricultural land" in the context of the SARFAESI Act does not include land on which plantation crops like coffee, cardamom, pepper, rubber, and tea are grown. * **Legal Challenges and Court Decisions**: * Recovery actions by Union Bank of India and Allahabad Bank under SARFAESI Act were challenged in Writ Petitions, which were initially dismissed by the Karnataka High Court. * The dismissal was appealed. The Division Bench of the Karnataka High Court upheld the action of the banks. * Special Leave Petitions (SLP) were filed with the Supreme Court against the High Court's judgment. One SLP was withdrawn, and the other is still pending. * **Government's Role and Actions**: * The Central Government administers the SARFAESI Act, allowing banks and financial institutions to recover dues exceeding one lakh rupees without court intervention. The government is not involved in the commercial or recovery decisions of banks. * The Department of Commerce indicated that the Coffee Board has not received related information. * Section 17 of the SARFAESI Act allows aggrieved parties, including borrowers, to file a Securitisation Application (SA) in the Debts Recovery Tribunal (DRT) against the actions of a secured creditor. **Impact Analysis** **Stakeholder:** Public Sector Banks, Union Bank of India, Allahabad Bank (now Indian Bank) **Impact:** Banks are being questioned on the legality of using the SARFAESI act on coffee plantations as a result of requests of the coffee growers to abandon the process. Banks may need to alter their recovery strategies for coffee plantation loans based on the final Supreme Court ruling on SARFAESI Act applicability. **Action Required:** Await Supreme Court ruling on pending SLP to determine final legality of applying SARFAESI Act to coffee plantations. **Stakeholder:** Coffee Growers/Borrowers **Impact:** Borrowers and their assets may be subjected to securitization and reconstruction of financial assets, and enforcement of security interest due to their loan situation. The SARFAESI Act is upheld by the courts, though, allowing the banks to continue their recovery processes. Borrowers are impacted by actions under the SARFAESI Act. **Action Required:** Borrowers have recourse to file a Securitisation Application (SA) in the Debts Recovery Tribunal (DRT) against the actions of a secured creditor under Section 17 of the SARFAESI Act. **Stakeholder:** The Central Government **Impact:** The Central Government is the administrator of the SARFAESI Act, and responsible for actions of the secured creditors, as well as answering questions raised on the act. The government must address concerns regarding enforcement action under the Act. **Action Required:** The Central Government has to address concerns on the application of the SARFAESI act and ensure adequate provisions are in place for action.

Key Entities Referenced

SARFAESI Act: Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, a law concerning the recovery of financial assets. Karnataka: The state in India where the coffee plantations and related legal disputes are located. Ministry of Finance: The Indian government ministry responsible for answering questions related to the SARFAESI Act and its impact on coffee plantations. Section 31(i) of the SARFAESI Act: A specific section of the SARFAESI Act concerning the applicability of the Act to agricultural land. Debts Recovery Tribunal (DRT): A tribunal where aggrieved parties can file applications related to enforcement actions under the SARFAESI Act.
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GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCIAL SERVICES LOK SABHA UNSTARRED QUESTION NO. 1152 ANSWERED ON MONDAY, DECEMBER 8, 2025/AGRAHAYANA 17, 1947 (SAKA) SARFAESI ACT 1152 SHRI KOTA SRINIVASA POOJARY Will the Minister of FINANCE be pleased to state: (a) whether Public Sector banks are auctioning the coffee plantations of overdue borrowers in the name of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, if so, the details thereof; (b) whether the Government has taken note of the request of the coffee growers to abandon the online auction process if are experiencing delays in paying their loans, if so, the details thereof (c) whether the Government noticed that traders in Dubai are unfairly exploiting coffee plantations in Chikkamagaluru district of Karnataka by obtaining licenses online, thereby causing injustice to coffee growers; (d) if so, the details thereof; and (e) the steps taken by the Government to help farmers to recover coffee plantation loans arrears by preventing online auctions in the name of the SARFAESI Act? ANSWER THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI PANKAJ CHAUDHARY) (a) Section 31(i) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002 bars the applicability of provisions of the SARFAESI Act to any security interest created in agricultural land. The recovery action of the Union Bank of India (erstwhile Corporation Bank) and erstwhile Allahabad Bank (now Indian Bank) under SARFAESI Act was challenged by the borrowers i.e. (1) Shri U.M.Ramesh Rao, partner in M/s Vijayadevan Coffee Estate and M/s Yellikudige Estate; and (2) M/s SSJV Projects Private Limited and its Director Shri Manohar Shetty, by filing Writ Petition No.12461/2020 and W.P.No.13932/2015, respectively. Both these Writ Petitions were dismissed vide order (s) dated 13.11.2020 and 14.11.2020 by the Single Judge of the Hon’ble Karnataka High Court. Against theOrder of dismissal, these Petitioners filed Writ Appeal before the Division Bench of the Hon’ble Karnataka High Court on the ground that coffee plantation is agricultural land within the meaning of Section 31(i) of the SARFAESI Act and therefore, the said Act does not apply to coffee plantation. The action of these Banks under SARFAESI Act has been upheld by the Division Bench of Hon’ble Karnataka High Court vide a common judgment dated 29.1.2021 interalia holding that, “the expression 'agricultural land' in Section 31(i) of the SARFAESI Act, does not include land on which plantation crops are grown namely, cardamom, coffee, pepper, rubber and tea as defined in Section 2(A)(25) of the Land Reforms Act (The Karnataka Land Reforms Act, 1961). Therefore, the measures initiated by the respondent banks in relation to the coffee estates in these appeals are not hit by Section 31(i) of the SARFAESI Act, as the said Act is applicable to land on which plantation crops are grown, including coffee plantation, in the instant cases.” The Judgment of the Hon’ble High Court dated 29.1.2021 has been challenged by the Petitioners by filing Special Leave Petitions before the Hon’ble Supreme Court. The SLP filed in the matter of Shri U M Ramesh Rao was dismissed as withdrawn on 11.8.2023. The Judgment of the Hon’ble Karnataka High Court has not been stayed and the issue is sub judice before the Hon’ble Supreme Court, since the SLP filed by Petitioner in the matter of SSJV Projects is still pending before the Hon’ble Supreme Court. (b) The Central Government administers the SARFAESI Act, 2002 which allows banks and financial institutions to recover their dues exceeding one lakh rupees by proceeding against secured assets of the borrower/guarantor without the intervention of the court/tribunals. The Government is not involved in commercial decisions or recovery proceedings of banks or financial institutions. (c) & (d) Department of Commerce has informed that Coffee Board has not received any such information. (e) In order to address the concerns regarding enforcement action under SARFAESI Act by any secured creditor, adequate provision has been made under Section 17 of the SARFAESI Act, wherein any person (including borrower) aggrieved, has recourse to filing of Securitisation Application (SA) in the Debts Recovery Tribunal (DRT) against the action of secured creditor under the SARFAESI Act. ********

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