Jammu and Kashmir High Court
WP(C)/2840/2026 of M/S AKHTER HUSSAIN CONTRACTOR TH. AKHTER HUSSAIN AND ANOTHER Vs JAMMU AND KASHMIR BANK LTD. TH. ITS MANAGING DIRECTOR, SRINAGAR AND OTHERS on 9 September 2026
72 HIGH COURT OF JAMMU & KASHMIR AND LADAKH AT JAMMU (Through Virtual Mode) WP(C) No. 2840/2026 CM No. 6251/2026 M/S Akhter Hussain Contractor & Anr. …. Petitioner/Appellant(s) Through:- Mr. Mohammad Ashraf Malik, Advocate (Through Virtual Mode) V/s Jammu and Kashmir Bank Ltd.
Sr. No. 72
HIGH COURT OF JAMMU & KASHMIR AND LADAKH
AT JAMMU
(Through Virtual Mode)
WP(C) No. 2840/2026
CM No. 6251/2026
M/S Akhter Hussain Contractor
& Anr.
…. Petitioner/Appellant(s)
Through:-
Mr. Mohammad Ashraf Malik,
Advocate
(Through Virtual Mode)
V/s
Jammu and Kashmir Bank Ltd. &
Ors.
…..Respondent(s)
Through:-
Mr. Ajay Gandotra, Sr. Adv. with
Ms. Lakshi Bral, Advocate
CORAM :
HON’BLE MRS. JUSTICE SINDHU SHARMA, JUDGE
HON’BLE MR. JUSTICE SHAHZAD AZEEM, JUDGE
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ORDER
09.09.2026
1. Issue notice to the respondents.
2. Ms. Lakshi Bral, learned counsel, accepts notice on behalf of the respondents.
3. 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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4. 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.
5. 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.
6. 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.
7. Till then, no coercive steps shall be taken against the petitioners.
8. The writ petition is, accordingly, disposed of.
(SHAHZAD AZEEM) (SINDHU SHARMA)
Judge
Judge
JAMMU Amit 09.09.2026