Disposed

M/S Akhter Hussain Contractor Th. Akhter Hussain and Another v. Jammu and Kashmir Bank Ltd. Th. Its Managing Director, Srinagar and Others

J&K HC9 Sept 2026WP(C)/2840/2026

Case brief

AI extract

What is this about?

Writ petition challenging SARFAESI Act notices was disposed of. Court directed petitioners to deposit 50% of outstanding dues within five weeks, with the balance in three months, to prevent coercive steps. Failure to comply allows the bank to proceed under the Act.

What did the court decide?

Direction to deposit 50% of outstanding amount within five weeks and balance in three months; stay on coercive steps.

M/S Akhter Hussain Contractor Th. Akhter… — Contract and Commercial Disputes | J&K HC (2026)

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Sr. No. 72 HIGH COURT OF JAMMU & KASHMIR AND LADAKH

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AT JAMMU

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(Through Virtual Mode)

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WP(C) No. 2840/2026 CM No. 6251/2026

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M/S Akhter Hussain Contractor …. Petitioner/Appellant(s) & Anr.

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Through:Mr. Mohammad Ashraf Malik, Advocate (Through Virtual Mode)

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V/s

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Jammu and Kashmir Bank Ltd. & Ors.

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…..Respondent(s)

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Through:Mr. Ajay Gandotra, Sr. Adv. with Ms. Lakshi Bral, Advocate

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CORAM : HON’BLE MRS. JUSTICE SINDHU SHARMA, JUDGE HON’BLE MR. JUSTICE SHAHZAD AZEEM, JUDGE

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ORDER 09.09.2026

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Issue notice to the respondents.

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Ms. Lakshi Bral, learned counsel, accepts notice on behalf of the respondents.

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Impugned in this petition are the Demand Notice issued under Section 13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI Act”), dated 18.05.2025 , and the Possession Notice dated 02.09.2026 , issued under Section 13(4) of the SARFAESI Act read with Rule 8(1) of the Security Interest (Enforcement) Rules, 2002.

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Learned counsel for the petitioners fairly submits that the petitioners are willing to deposit the entire outstanding amount of Rs. 68,88,579.94 /- , but seeks some time to do so.

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With the consent of learned counsel for the parties, this writ petition is disposed of at this stage itself, with a direction that the petitioners shall deposit 50% of the total outstanding amount, i.e. Rs. 68,88,579.94 /- , within a period of five weeks from today and the balance amount, i.e. Rs. 34,44,289.97/- , within a period of three months thereafter.

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In the event, the petitioners fail to deposit the outstanding amount within the aforesaid stipulated time the respondent-Bank shall be at liberty to proceed in accordance with law and in terms of the provisions of the SARFAESI Act.

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