Excelsior Correspondent
JAMMU, Dec 19: In a major setback to People’s Democratic Party (PDP), the Punjab National Bank (PNB) has repeated a possession notice to Highland Automobiles, a concern of the family of party’s sitting MLA and former Minister Moulvi Iftikhar Hussain Ansari, asking it to deliver possession of the secured assets for failing to pay Rs 13.34 crores due to the bank against a loan availed by the Company.
A senior official of the PNB said the defaulting Company has not been even responding to notices of the Bank.
“What to say of settling the amount taken as loan, the Highland Automobiles, Srinagar has not even replied to our notices to repay the loan,” he said, adding this has prompted the bank to take over secured assets of the owners of the Company.
He added that the bank would start the process of taking over the assets next month.
“The amount due to the bank has not been paid till date. We have therefore, decided to take possession of the secured assets,” the PNB notice issued to the Company owned by the Ansari family read.
The possession of secured assets which the bank is scheduled to take over included five storied building comprising basement, occupied by Airtel and two storied building with attic having mains showroom of Maruti and single storied workshop building, two storied building having denting/painting and accessories office at Sonwar in Srinagar, which has been leased in favour of M/s Ansari Motors with land measuring 8 kanals and 7 marlas under survey number 394/204/13, 396/15 and 398/16.
The other secured assets, which the bank would takeover included a three storied residential building and land underneath measuring 4 kanals at Rampora, Chattabal, Qamarwari, Srinagar in the name of Abid Hussain Ansari under survey number 699/75, 701/76, 1047/78 and 703/77.
A plot measuring 4 kanals at Rampora, Chattabal, Qamarwari Srinagar in the name of Dr Amjid Abbas Ansari under survey number 1047/78, 1072/696/74, 1077/709/79, 1079/711/80, 1081/715/82 and 1085/724/86 also figured in the secured assets mentioned in the PNB notice.
Besides this, the PNB has decided to take over the possession of 9 kanals of land along with workshop, showroom, etc at Estate Channi Rama, Jammu in the name of Abid Hussain Ansari under survey numbers 301, 308, 305, 306 and 304.
Pertinently, an operation on a similar notice served to the company by the bank on October 6, 2009 was stayed by a City court in Srinagar but the petition filed by the company against the bank was later dismissed by the Court of Principal and District Judge, Srinagar vide its order dated September 26, 2013. The bank has also approached the police to depute their personnel to avoid breach of peace and any untoward incident.
“You are hereby called upon to deliver possession of the secured assets above detailed before December 20, 2013 failing which I, the undersigned, as authorized officer of PNB (secured creditor) will take possession of the above said secured assets on or after December 26,” reads the PNB notice issued by Rajinder Singh, the authorized officer of the bank.
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