- 1 - NC: 2025:KHC:4246 WP No. 2141 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 30TH DAY OF JANUARY, 2025 BEFORE THE HON'BLE MR JUSTICE R DEVDAS WRIT PETITION NO. 2141 OF 2025 (GM-RES) BETWEEN: 1. SRI. PAVAN N., S/O LATE NAGARAJ RAO M., AGED ABOUT 51 YEARS. 2. SMT. N. VIJAYA RAO W/O LATE NAGARAJ RAO M., AGED ABOUT 81 YEARS. BOTH ARE RESIDING AT NO. 366, MANJUNATHA TEMPLE ROAD, 2ND MAIN ROAD, SBM COLONY, BANASHANKARI 1ST STAGE, BENGALURU 560 050 …PETITIONERS (BY SRI. OMKUMAR R., ADVOCATE) AND: THE AUTHORISED OFFICER TUMKUR GRAIN MERCHANTS CO-OPERATIVE BANK LTD., ADMIN. OFFICE: B.H ROAD, TUMKUR 572 103 …RESPONDENT (BY SRI. K.V. LOKESH, ADVOCATE) Digitally signed by KRISHNAPPA LAXMI YASHODA Location: HIGH COURT OF KARNATAKA - 2 - NC: 2025:KHC:4246 WP No. 2141 of 2025 THIS W.P. IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO DIRECT THE RESPONDENT BANK TO CONSIDER THE REQUEST OF THE PETITIONERS FOR ONE TIME SETTLEMENT OF THE LOAN AVAILED BY THEM AND ETC. THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE R DEVDAS ORAL ORDER The prayer in the writ petition is to direct the respondent - Bank to consider the request of the petitioner for One-Time-Settlement Scheme of the loan availed by them from the respondent - Bank. 2. It is also prayed that direction may be issued to the respondent - Bank to permit the petitioners to mortgage the schedule property in favour of some other bank or financial institution and clear the loan amount payable by the petitioner or in the alternative, reschedule the loan of the petitioner. 3. Learned counsel for the respondent - Bank submits that an application under Section 14 was filed before the Jurisdictional Magistrate in the year 2020 in - 3 - NC: 2025:KHC:4246 WP No. 2141 of 2025 Crl.Misc.No.4019/2020 and on account of the intervention of the petitioners the matter was dragged on for four years and finally the order was passed by the Learned XXXVII Additional Chief Judicial Magistrate, Bangalore on 22.11.2024 allowing the applications filed under Section 14 and permitted the respondents to take the physical possession of the secured assets. The petitioners filed an application before the Debt Recovery Tribunal in I.A.No.2064/2024 in S.A.No.257/2024 seeking stay of the orders passed by the Jurisdictional Magistrate. An order was passed by the Debt Recovery Tribunal on 26.11.2024 staying the operation of order dated 22.11.2024 in Crl.Misc.No.4019/2020 subject to the condition that the petitioners herein shall deposit Rs.23,30,000/- which is approximately 25% of the outstanding loan amount within the time frame stipulated therein. 4. Learned counsel for the respondent submits that the petitioners have complied with the direction issued by the DRT and now they are before this Court seeking intervention although prayer is only regarding One-Time-Settlement Scheme. - 4 - NC: 2025:KHC:4246 WP No. 2141 of 2025 5. Prayer No.2 cannot be granted by this Court having regard to provisions contained in the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Insofar as prayer No.1 is concerned, the petitioners are permitted to make representation to the respondents and the respondents shall consider the same in accordance with law. 6. Accordingly, writ petition is disposed of. If the petitioners seek possession of the property, necessary application may be made before the DRT and if such an application is filed, the DRT may consider the same in accordance with law. Sd/- (R DEVDAS) JUDGE TIN List No.: 1 Sl No.: 18 CT:SNN