Excelsior Correspondent
JAMMU, July 17: A Division Bench of the High Court of Jammu & Kashmir and Ladakh comprising Justice Sanjeev Kumar and Justice Sanjay Parihar has dismissed a review petition filed by M/s Ghulam Hassan Shah against the Union Territory of J&K, terming it “grossly misconceived” and imposed a cost of Rs 50,000 on the petitioner for attempting to mislead the court.
The petitioner had approached the Division Bench seeking a review of the earlier judgment dated November 29, 2024 passed in WP(C) No. 1520/2024.
The review plea hinged on the argument that the mortgaged property, used as collateral for securing a loan, was purely agricultural land and therefore outside the purview of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act, 2002.
The petitioner contended that the land mortgaged to the respondent bank was agricultural in nature at the time of availing the loan and remained so. Moreover, no commercial activity or construction had been carried out on the land.
However, the Division Bench rejected the arguments noting that the Division Bench in its previous ruling had already considered the nature of the land. It pointed out that the petitioner had willingly mortgaged the land to secure a loan and cannot now claim immunity under the SARFAESI Act.
“Accepting such an argument would essentially reward misrepresentation and could even warrant criminal proceedings against the petitioner for allegedly misleading the bank. The petitioner deliberately committed an act which is, prima facie, tantamount to commission of offence of cheating,” the DB noted.
Slamming the misuse of judicial process, the DB imposed a cost of Rs 50,000 to be deposited in the Registry within two weeks. “Failure to do so would result in the framing of a Robkar against the petitioner”, the DB added.
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