JDA wins 30 years old legal dispute, Rs 18.12 cr bank guarantee released

Jammu: The Jammu Development Authority (JDA) has achieved a major institutional and financial success by finally securing a favourable outcome in a long-pending legal dispute that had remained unresolved for over three decades.
As a result of the resolution of the said dispute, Jammu & Kashmir Bank has released the bank guarantees with interest amounting Rs 18.12 crore in favour of JDA. The whole amount involved has been successfully realised and credited to the JDA’s account. This development brings complete closure to a matter that had remained a contingent financial burden on the Authority for decades.
The successful culmination of this prolonged case marks a significant milestone for JDA, safeguarding substantial public funds and reinforcing the Authority’s commitment towards protecting the public interest through lawful and persistent institutional efforts.
Speaking on the occasion, VC JDA Rupesh Kumar, said: “The resolution of this three decade old dispute is the result of sustained efforts, teamwork and institutional perseverance. I sincerely appreciate the dedicated work of the officers and staff of JDA who pursued this matter with diligence over the years. I also acknowledge the valuable guidance and support provided by our seniors, which played a crucial role in achieving this outcome.”
JDA reiterates its commitment towards transparency, accountability and prudent financial management.