The Magistrate acts as a facilitator under S.14 of the SARFAESI Act, with no obligation to afford a hearing to the borrower.

1. As factual narration of the present case would unfurl, the petitioner Company approached the respondent bank for grant of various loan facilities and an aggregating amount of Rs.1,70,00,000/- lacs (Rupees One Crore Seventy Lacs Only), came to be sanctioned and disbursed in its favour. In addition, it also availed a car loan facility of Rs.2.94 lacs and a credit card facility of Rs.5.00 lacs. They are secured by various security documents including duly registered Deeds of Mortgage as Collateral Security comprised of (1) Equitable Mortgage of 06 Marlas of land bearing Khasra No. 2173 min, Khata No. 494 and Khewat No. 68 at Mooza Nihalpora, Tehsil Pattan District Baramulla (2) Extension of Charge on equitable mortgage of three storied Residential House along with a land measuring 4 Marlas bearing Khasra No. 316 min, Khata No. 192 and Khewat No. 173 situated at Mouza Umerheir Tehsil and District Srinagar(3) Registered mortgage of land measuring 10 Marlas bearing Khasra No. 37 min, Khata No. 550 min, Khewat No. 139 situated at Mouza Nunar Tehsil and District Bandipora (4) Equitable Mortgage of land measuring 3 Marlas bearing Khasra No. 7 min, Khata No. 871 min Khewat No. 138 min situated at Mouza Ausun, Tehsil Kangan, District Ganderbal and (5) Equitable mortgage of land measuring 06 Marlas bearing Khasra No. 103 (new) 322 (old), Khata No. 11 and Khewat No. 11 located at Shadab Colony, Ahmad Nagar Srinagar.

2. Since the petitioner failed to maintain the loan account as per the agreed terms and conditions, it was classified as a Non - Performing Asset with effect from 12.06.2023. As a result, notice under S.13(2) of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ("the SARFAESI Act") came to be issued on 26.06.2023, which according to the petitioner, was replied on 08.08.2023. The respondent bank preferred an application under S.14 of the SARFAESI Act in the Court of learned Chief Judicial Magistrate, Srinagar and the said court vide order dated 26.04.2024 directed Tehsildar Eidgah, Srinagar to take possession of the secured assets and Tehsildar issued notice to the petitioner on 18.05.2024.

3. The aforesaid notice dated 26.06.2023 issued by the respondent under S.13(2) of the SARFAESI Act, order dated 26.04.2024 passed by learned CJM, Srinagar and notice dated 18.05.2024 issued by Tehsildar, came to be questioned by the petitioner by way of writ petition; WP(C) 1124/2024 titled "M/s F. A. Construction Company v. J and K Bank Limited and Others" and this Court vide order dated 29.05.2024 directed that subject to payment of Rs.20.00 lacs by the petitioner within a period of 02 weeks to the respondent bank, no coercive action shall be taken against it. On 06.06.2024 this Court, in the said writ petition observed that if the aforesaid deposition was not made by the petitioner, the interim direction shall stand vacated and if made a similar amount be deposited again by the next date i.e., 12.07.2024 and if not done so, the interim protection shall stand vacated.

4. Case of the petitioner is that it deposited an amount of Rs.17 lacs in compliance to order dated 29.05.2024 and the respondent bank refused to accept rest of the amount however, learned CJM, Srinagar vide order dated 26.04.2024 disposed of the application preferred by the respondent under S.14 of the SARFAESI Act and a possession notice dated 13.11.2024 came to be issued by Tehsildar, Eidgah, Srinagar, whereby petitioner has been asked to remove the necessary belongings within 15 days from the date of issuance of notice and handover possession of the property to the respondent.

5. Having heard the rival contentions, we have per