Jammu & Kashmir High Court – Srinagar Bench
M/S Dream Land Builders vs Jammu & Kashmir Bank Limited And Anr on 12 March, 2025
Author: Puneet Gupta
Bench: Puneet Gupta
Serial No. 69
Supp. Cause List
HIGH COURT OF JAMMU & KASHMIR AND LADAKH
AT SRINAGAR
WP(C) 13/2025 CM(23/2025)
M/S Dream Land Builders ... Petitioner/Appellant(s)
Through: Mr. F.A. Wani, Advocate
Vs.
Jammu & Kashmir Bank Limited And Anr. ...Respondent(s)
Through: Mr. Shafqat Nazir, Advocate
CORAM:
HON'BLE MR. JUSTICE ATUL SREEDHARAN, JUDGE
HON'BLE MR. JUSTICE PUNEET GUPTA, JUDGE
ORDER
12.03.2025
Learned counsel appearing for the petitioner has prayed for
another week’s time to comply with the orders dated 02.01.2025 and
05.03.2025.
The order dated 02.01.2025 was passed wherein it was
recorded that no coercive action shall be taken against the petitioner if he
deposits an amount of Rs. 1.50 crores to the respondent Bank within a
period of eight weeks from 02.01.2025, however, the same was not done
and by order dated 05.03.2025, the submission of the counsel for the
petitioner was recorded wherein he stated that out of Rs. 1.50 crores that
was to be deposited with the Bank within eight weeks, the petitioner has
arranged 80.00 lacs. Therefore, this Court has directed subject to deposit
of Rs. 80.00 lacs into the account of the Bank by 10 AM Friday i.e., on
07.03.2025, the direction for no coercive action shall stand extended and
the remaining amount shall be deposited by or before the next date of
hearing. This Court made it clear that it shall not entertain any further
application for extension of time.
Arif Hameed
I attest to the accuracy and
authenticity of this document
13.03.2025
Today also, it has been submitted on behalf of the petitioner
that an additional week’s time is required to pay the amount which was
required to be paid in terms of the order dated 05.03.2025.
However, in view of the explicit observations made in the
order dated 05.03.2025, the prayer of the learned counsel for the petitioner
for additional time is rejected. The Bank is given liberty to proceed against
the petitioner in a manner it deems fit in accordance with law.
List on 26.03.2025.
(PUNEET GUPTA) (ATUL SREEDHARAN)
JUDGE JUDGE
SRINAGAR:
12.03.2025
"Mir Arif"
Arif Hameed
I attest to the accuracy and
authenticity of this document
13.03.2025
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