- 1 - NC: 2025:KHC:2081 WP No. 1224 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 20TH DAY OF JANUARY, 2025 BEFORE THE HON'BLE MR JUSTICE R DEVDAS WRIT PETITION NO. 1224 OF 2025 (GM-RES) BETWEEN: 1. M/S. VEJAYA LAKSHMI FERTILIZERS AND MINERALS, A COMPANY REGISTERED UNDER THE PROVISIONS OF MICRO, SMALL AND MEDIUM ENTERPRISES ACT, 2006 SY.NO.155/4, GUNGRAL CHATRA VILLAGE, YELWALA HOBLI, MYSURU - 570 008, REPRESENTED BY ITS PROPRIETOR MR. S.A. PREMKUMAR, AGED 55 YEARS. 2. M/S. SURABHI FERTILIZERS AND ORGANIC FERTILIZERS SY.NO.155/4, GUNGRAL CHATRA VILLAGE, YELWALA HOBLI, MYSURU - 570 008, REPRESENTED BY ITS PROPRIETOR MR. S.A.PREMKUMAR, AGED 55 YEARS, PROPRIETORSHIP CONCERNED. …PETITIONERS (BY SRI. S. KALYAN BASAVARAJ, ADVOCATE) AND: 1. THE CHIEF MANAGER, BANK OF MAHARASHTRA LOKMANGAL, 1501, SHIVAJINAGAR PUNE - 411 004. EMAIL ID: fxhelpdesk@mahabank.co.in Digitally signed by MAMATHA R Location: High Court of Karnataka - 2 - NC: 2025:KHC:2081 WP No. 1224 of 2025 2. THE ZONAL MANAGER, BANK OF MAHARASHTRA, 465/A, FIRST FLOOR, OPPOSITE NMKRV WOMEN'S COLLEGE, 22ND CROSS ROAD, 3RD BLOCK, JAYANAGAR, BENGALURU - 560 011. EMAIL ID: legal ban@mahabank.co.in 3. THE BRANCH MANAGER, BANK OF MAHARASHTRA, JAILAXMIPURAM BRANCH, MYSURU - 560 012. EMAIL ID: mahaconnect@mahabank.co.in …RESPONDENTS (BY SMT. DIVYA PURANDAR, ADVOCATE) THIS W.P. IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE IMPUGNED POSSESSION NOTICES 28.11.2024 (3 NOs) PRODUCED AS ANNX-A, B AND C AND SALE NOTICE BEARING NO. AX27/SARFAESI/SALE NOTICE/2024-25 DATED 24.12.2024 ISSUED BY THE R-1 PRODUCED AS ANNX-D TO THE WRIT PETITION AND ETC., THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE R DEVDAS - 3 - NC: 2025:KHC:2081 WP No. 1224 of 2025 ORAL ORDER Learned Counsel Smt.Divya Purandar has entered appearance for the respondents. 2. Learned counsel for the petitioners contends that the petitioners had in fact requested the respondent- Bank to restructure the loan account and the EMI, but the respondent-Bank has proceeded to issue notices under Section 13(2) and 13(4) of the SARFAESI Act, 2002. A sale notice dated 24.12.2024 is also issued showing the reserved price of the secured assets in respect of one item of property at Rs.3,27,91,000/-. Learned counsel submits that if reasonable time is granted, the petitioners will pay the outstanding EMI amount and try to get the loan account regularized. 3. However, learned counsel for the Respondents submits that the units of the petitioners have been closed, and therefore, it would be impermissible in law to regularize the accounts. Learned Counsel would strongly object to the writ petition while contending that the - 4 - NC: 2025:KHC:2081 WP No. 1224 of 2025 petitioners are required to approach the Debts Recovery Tribunal. 4. Having regard to the law laid down by the Hon'ble Supreme Court that the High Courts should not interfere in the matters of recovery of the loan amount once notice under Section 13(4) is issued by the secured creditor, this Court is of the considered opinion that the petitioners have to approach the Debts Recovery Tribunal to redress their grievance. 5. Accordingly, the writ petition stands disposed of granting liberty to the petitioners to approach the Debts Recovery Tribunal. However, the respondent-Bank is hereby directed not to precipitate the matter for a period of one week to enable the petitioners to approach the Debts Recovery Tribunal. Sd/- (R DEVDAS) JUDGE rv List No.: 1 Sl No.: 5 CT: BHK