Indian Bank vs K. Pappireddiyar

The Supreme Court held that the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) apply to the property in question, despite its classification as agricultural land in revenue records. The Court established that the classification does not automatically exempt the land from the SARFAESI Act, and the determination of whether land is agricultural is a factual question. The Court overturned the Madras High Court's ruling, allowing the enforcement of the security interest in the property and the auction sale to stand.