SARFAESI Act cannot be invoked in Nagaland without a valid security interest and legislative approval under Article 371A
North Eastern Development Finance Corporation Ltd. v. M/s L. Doulo Builders and Suppliers Co. Pvt. Ltd. (2025 INSC 1446)
Supreme Court holds that SARFAESI Act cannot be invoked in Nagaland without legislative approval under Article 371A and without creation of a valid security interest in favour of the lender.