Which of the following is EXEMPT from the operation of the SARFAESI Act 2002 under Section 31 thereof?

Section 31 of the SARFAESI Act 2002 specifies the transactions and assets to which the provisions of the Act shall not apply. The exemptions include a lien on any goods, a pledge of moveable property within the meaning of Section 172 of the Indian Contract Act 1872, creation of any security interest in any aircraft, any conditional sale, any hire-purchase agreement, and a security interest created on agricultural land. Plant and machinery of a company, shares and securities pledged with the bank, leasehold rights in a commercial building, and pledged movable assets do not fall within these exemptions and remain amenable to enforcement under the Act. Since the exemption covers security interests created on agricultural land, agricultural land is the correct answer, as measures under Section 13 cannot be taken against such interests.