Through: –
Mr. Rabinder Singh, Advocate.
HON’BLE MR JUSTICE MOHD YOUSUF WANI, JUDGE
(ORDER)
10.03.2025
1. The short grievance of the petitioner being agitated through the
medium of the instant petitioner filed under Article 226 of the
Constitution of India is that his business unit M/S Harvard
International Showroom, Saidakadal, Srinagar which was got insured
by the respondent-Bank i.e., Jammu and Kashmir Bank Limited
through its Branch Manager REC-NIT, Srinagar was damaged in a
fire incident pursuant to which he could not continue with the said
business. That since the petitioner had raised a loan from the
respondent-Bank in connection with the management of his aforesaid
business, therefore, owing to the fact of his business coming to a halt,
his loan account was declared as NPA for want of repayments and the
respondent-Bank also initiated the proceedings under SURFAESI Act
in respect of the secured asset. That he made representation before the
respondent-Bank offering to avail Bank’s One Time Settlement
scheme with further request to respondent-Bank to get his insurance
claim settled as having been secured through Bank itself but, the
respondent-Bank has slept over the matter which has added to his
hardships.