M/S Shakeel Ahmad Bhat vs Jk Bank Ltd. & Ors on 17 January, 2025

Jammu & Kashmir High Court – Srinagar Bench

M/S Shakeel Ahmad Bhat vs Jk Bank Ltd. & Ors on 17 January, 2025

                                                     S.No.8
                                                     Supp List
  IN THE HIGH COURT 0F JAMMU & KASHMIR AND LADAKH
                     AT SRINAGAR

                        WP ( C ) No. 109/2025
                         CM No. 236/2025
M/S Shakeel Ahmad Bhat                          ...Petitioner(s)/Appellant(s)



Through: Mr. Aijaz Ahmad, Advocate.

                                   Vs.

JK Bank Ltd. & Ors.                                         ...Respondent(s)


Through: Mr. N. A. Dendroo, Advocate.

CORAM:
    HON'BLE MR. JUSTICE MOHD YOUSUF WANI, JUDGE
                                ORDER

17-01-2025

1. The short grievance of the petitioner as projected through the

medium of instant petition filed under Article 226 of the

Constitution of India, is that he approached the respondent-

bank with a representation to avail their latest One Time

Scheme (OTS) policy issued vide circular No. 561 dated 18th

December, 2024 but despite qualifying for the same, the

respondent-bank did not process his representation and instead

have been pursuing the relevant provisions under the SARFASI

Act.

2. It is submitted in rebuttal by Mr. N. A. Dendroo, Advocate,

appearing for the respondent-bank that the petitioner is

resorting to dilly- dallying tactics and is not really interested in

liquidation of the outstanding loan amount. The petitioner’s

failure to liquidate the loan amount despite his account already

been declared as NPS has prompted the respondent-bank to
initiate the SARFASI proceedings for realization of the loan

amount from the secured asset.

3. In light of the grounds taken in the writ petition, this Court is of

the opinion that the matter can be disposed of at its threshold

stage by passing some appropriate orders which will not

prejudice the interests of the respondent-bank.

4. Accordingly, the instant writ petition is disposed of with a

direction to the respondent-bank to consider the

offer/representation of the petitioner for availing the latest OTS

issued vide circular No. 561 dated 18th December, 2024

provided he qualifies for the same, within a period of two

weeks from the date of receipt of certified copy of this order.

Till then no coercive measures shall be taken against the

petitioner for realization of the outstanding loan amount.

5. Disposed of along with connected CM(s).

;

(MOHD YOUSUF WANI)
JUDGE
SRINAGAR:

17-01-2025
Abdul Rashid