Disposed

Mohammad Amin Thoker v. Jammu and Kashmir Bank Limited

DRT21 May 2026SA/158/2023

Case brief

AI extract

What is this about?

This order disposes of the Securitization Application filed by applicants against Jammu and Kashmir Bank Limited. The Presiding Officer observed that the bank lacked proof of serving the Section 13(4) notice and had no CERSAI registration when the notice was issued, directing the bank to issue a fresh notice under Section 13(4)/14 of the SARFAESI Act.

What did the court decide?

The Securitization Application and pending IAs are disposed of with a direction to the Respondent Bank to issue a fresh notice under Section 13(4)/Section 14 of the SARFAESI Act.

Mohammad Amin Thoker versus Jammu and Kashmir Bank Limited — Banking and Recovery | DRT (2026)

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SA No. 158 of 2023

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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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SA No. 158 of 2023

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Mohammad Amin Thoker and others Versus

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Jammu and Kashmir Bank Limited and others

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Dated: 21.05.2026

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Item No. (Supplementary-1)

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Argued by: Mr.Tariq M. Shah, Counsel for the Applicants. Mr.Mayank Mathur and Mr.Gaurav Thakur, Counsel for the Respondent Bank.

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Mohammad Amin Thoker and others (Applicants) have filed this Securitization Application under Section 17 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), against the Jammu and Kashmir Bank Limited and others (Respondents).

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It is stated that the Applicants are the legal heirs of Mohammad Yousuf Thoker, who was the sole proprietor of M/s Shopian Fruit Growers. Jammu and Kashmir Bank had sanctioned credit facilities of Rs. 9 crores and odd sum to Mr.Thoker, which was not repaid by him. Accordingly, the Bank declared the account NPA. On 01.03.2017, Bank issued the notice under Section 13(2) of the SARFAESI Act. In response to the demand notice, Applicants filed the objections. After that Mr.Thoker submitted an OTS proposal with the Bank, for Rs. 3 crores. Out of the said sum, he deposited Rs. 1.81 crores and the Bank released one of the properties However, Mr.Thoker did not make the payment of remaining sum and the bank cancelled the OTS. Thereafter, Bank issued the notice under Section 13(4) of the SARFAESI Act and Applicants filed the present SA on 26.06.2023.

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Mr.Mathur, counsel for the Respondent Bank admits that the Bank has no proof of the fact that the possession notice under Section 13(4) was

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SA No. 158 of 2023

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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH

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served upon the Applicants. The said document is not traceable in the record of the Bank. Mr.Mathur admits that there was no CERSAI registration when the notice under Section 13(4), dated 18.01.2023 was issued. However, the Bank has thereafter got registered the security interest on the CERSAI portal.

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In view of the above, the present SA is disposed of with the observation that the Bank may issue a fresh notice under Section 13(4)/Section 14 of the SARFAESI Act. The SA stands disposed of . All the pending IAs, if any, are also disposed of, accordingly.

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Registrar is directed to send a copy of this order to all the parties, as per rule. Thereafter, file be consigned to record room after due compliance.

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(A S Narang) Presiding Officer Pronounced in open court DRT-I, Chandigarh Dated: 21.05.2026 Manoj

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Mohammad Amin Thoker v. Jammu and Kashmir Bank Limited

Case brief

What is this about?

What did the court decide?

Mohammad Amin Thoker v. Jammu and Kashmir Bank Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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