Sr. No. 28 Supp. List-I HIGH COURT OF JAMMU & KASHMIR AND LADAKH AT JAMMU WP(C) No. 656/2025 M/s SPIC Surgical Pvt. Ltd. …. Petitioner/Appellant(s) Through:- Mr. G.S. Thakur, Advocate. V/s Union of India and others …..Respondent(s) Through:- Mrs. Monika Kohli, Sr. AAG CORAM: HON’BLE MRS. JUSTICE SINDHU SHARMA, JUDGE HON’BLE MR. JUSTICE SHAHZAD AZEEM, JUDGE ORDER 14.07.2025 01. The petitioner, by way of this petition, seeks quashing of the possession notice dated 03.06.2024 issued by the respondent-Bank, as well as the consequential order dated 16.03.2024 passed by respondent No. 3 for taking possession of the immovable property of the petitioner under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act). 02. This Court, while considering this petition on 19.03.2025, had directed the respondents not to proceed with the auction/sale of the property in question, subject to the condition that the petitioner deposits 50% of the total liability with the respondent-Bank within a period of six weeks. 03. It appears that the petitioner has failed to comply with the aforesaid condition and has not deposited 50% of the total liability as directed by this Court. 04. Learned counsel for the petitioner now submits that nothing survives for adjudication in the present petition, however, he prays that the respondent-Bank may be directed to take the assistance of the petitioner in engaging a better valuer for the auction of the property in question. 05. In view of the above and with the consent of learned counsel for the parties, the petition is disposed of with a direction that the respondent-Bank shall be at liberty to proceed with the auction of the secured assets strictly in accordance with law. However, the respondent-Bank may take the assistance of the petitioner in identifying or engaging a better valuer to ensure optimum value in the auction process. (Shahzad Azeem) (Sindhu Sharma) Judge Judge Jammu: 14.07.2025 Michal Sharma/PS