- 1 - NC: 2025:KHC:10074 WP No. 4939 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 10TH DAY OF MARCH, 2025 BEFORE THE HON'BLE MR JUSTICE M.NAGAPRASANNA WRIT PETITION NO. 4939 OF 2025 (GM-RES) BETWEEN: M/S POWER SYSTEMS REP. BY MANAGING PARTNER ARUN KUMAR M NO.86, ROOM-A, 3RD MAIN 4TH CROSS, 4TH PHASE J P NAGAR, DOLLARS COLONY BANGALORE - 560078 …PETITIONER (BY SRI. B R VISWANATH, ADVOCATE) AND: CHIEF MANAGER BANK OF BARODA SOUTH END ROAD BRANCH BASAVANAGUDI BANGALORE - 560004 …RESPONDENT (BY SMT. NATASHA MURTHY, ADV.) THIS W.P. IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA PRAYING TO DIRECT THE RESPONDENT GO GIVE CREDIT THE SUM OF RS.1,71,00,000/- (ONE CRORE SEVENTY ONE LAKHS ONLY) TO THE LOAN ACCOUNT AND ALSO NOT TO PROCEED FURTHER UNDER THE PROVISIONS OF SARFAESI ACT TILL THE ACCOUNT STATEMENT ADJUDICATING THE SAID AMOUNT IS FURNISHED AND ETC. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: Digitally signed by NAGAVENI Location: High Court of Karnataka - 2 - NC: 2025:KHC:10074 WP No. 4939 of 2025 CORAM: HON'BLE MR JUSTICE M.NAGAPRASANNA ORAL ORDER The petitioner is before this Court seeking the following prayer: "(a) directing the Respondent go give credit the sum of Rs.1,71,00,000/= (One Crore Seventy One Lakhs Only) to the Loan Account and also not to proceed further under the provisions of SARFAESI Act till the account statement adjudicating the said amount is furnished; (b) pass such other and further orders as this Hon'ble Court may deem fit and grant under the facts and circumstances of the case." 2. The learned counsel for the petitioner submits that he was before the coordinate Bench of this Court on an earlier occasion and the petition comes to be disposed by the following order: " The petitioner challenges the sale notice issued under Rule 8(6) read with Rule 9 of the Security Interest (Enforcement) Rules, 2002. 2. This Court, vide order dated 13.11.2024, directed the respondent-Bank not to confirm the sale, subject to the petitioner depositing 10% of the outstanding amount due. The petitioner has complied with this interim order by depositing the said amount. 3. The learned counsel for the respondent-Bank submitted that the auction scheduled on the designated date did not take place due to the lack of bidders. He further submitted that the petitioner’s loan account could - 3 - NC: 2025:KHC:10074 WP No. 4939 of 2025 be regularized, provided the petitioner deposits a sum of Rs.2,55,34,681/-, along with accrued interest, on or before 31.12.2024. 4. The learned counsel for the petitioner submitted that the petitioner is willing to deposit the requisite amount for the regularization of the loan account, provided reasonable time is granted. 5. Therefore, it is appropriate to dispose of this petition by directing the petitioner to deposit a sum of Rs.1,00,00,000/- (Rupees One Crore only) on or before 31.12.2024 and to pay the balance amount, out of Rs.2,55,34,681/-, along with accrued interest, if any, on or before 31.01.2025. Failure to make the payments as stipulated above will entitle the respondent-Bank to proceed in accordance with the law." 3. Learned counsel for the respondent submits that despite the order passed by the coordinate bench of this Court, deposit of Rs.80,00,000/- was made, as against Rs.1,00,00,000/- and Rs.2,55,34,681/-, as was directed. The second petition comes about seeking aforesaid prayer. 4. Therefore, if the Bank is willing to consider the case of the petitioner and pass necessary orders, it is for the Bank. This Court, would not sit in the position of the Bank and direct to give credit to the amount that is already paid, in the light of the fact that the petitioner has been in default in not complying with the order dated 27.11.2024, in its entirety. - 4 - NC: 2025:KHC:10074 WP No. 4939 of 2025 5. With the aforesaid observations, the petition stands disposed. Ordered accordingly. Sd/- ______________________ JUSTICE M.NAGAPRASANNA KG List No.: 1 Sl No.: 94