‘Highland Automobiles owes Rs 13, 34, 31055 to PNB’

KL Report


Punjab National Bank (PNB) has repeated a possession notice to Highland Automobiles asking it to deliver possession of the secured assets for failing to pay Rs 133431055 due to the bank against a loan availed by the company.

“…The amount due to the bank has not been paid till date. We have therefore, decided to take possession of the secured assets…,” reads the PNB notice, a copy of which is in possession of KNS.

The possession of secured assets which the bank is scheduled to take over include five storied building including basement, occupied by AIRTEL and two storied building with attic having mains showroom of Maruti and single stored workshop building, two storied building having denting/painting and accessories office at Sonwar Srinagar 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 are going to be taken over by the PNB include a three storied residential building and land underneath measuring 4 Kanals at Rampora, Chattabl, Qamarwari, Srinagar in the name of Shri Abid Hussain Ansari under survey number 699/75, 701/76, 1047/78 and 703/77.

A plot measuring 4 kanals at Rampora, Chattabal, Qamarqari 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 includes 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 alongwith workshop, showroom, etc at Estate Channi Rama Jammu in the name of Shri 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 district judge Srinagar vide its order dated September 26, 2013.

The bank has now approached the police to depute their personnel to avoid breach of peace and any untoward incident. “You are herby 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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