SUNDRI Vs. JAMMU NAD KASHMIR BANK

JUDGEMENT

(1.) In this Petition, filed under Article 226 of the Constitution of India, the Petitioners seek to challenge an Order dated 22nd of February, 2024 passed by the learned Chief Judicial Magistrate, Srinagar in an application moved by the Respondent-Bank under Sec. 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ("the Act of 2002").

(2.) The impugned Order has been assailed by the Petitioners, primarily, on the ground that the application which was filed by the Respondent-Bank purportedly under Sec. 14 of the Act of 2002 was against a dead person and, therefore, not maintainable.

(3.) Learned Counsel for the Petitioners submits that one of the original borrowers, namely, Abdul Aziz Sofi passed away on 24th of July, 2023, whereas, the application under Sec. 14 of the Act of 2002 was filed on 18th of December, 2023.