- 1 - NC: 2025:KHC:16986-DB WP No. 14693 of 2022 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 25TH DAY OF APRIL, 2025 PRESENT THE HON'BLE MR JUSTICE KRISHNA S DIXIT AND THE HON'BLE MR JUSTICE RAMACHANDRA D. HUDDAR WRIT PETITION NO. 14693 OF 2022 (GM-RES) BETWEEN: YES BANK LIMITED A COMPANY INCORPORATED AND REGISTERED UNDER THE COMPANIES ACT, 1956 AND BANKING COMPANY WITHIN THE MEANING OF SECTION 5(C) OF THE BANKING REGULATION ACT, 1949 AND HAVING ITS REGISTERED OFFICE AT YES BANK HOUSE OFF WESTERN EXPRESS HIGHWAY SANTACRUZ EAST MUMBAI-400 055 AND AMONGST OTHERS BRANCH AT BANGALORE HAVING ADDRESS AT PRESTIGE OBELISK GROUND FLOOR, MUNICIPAL NO.3 KASTURBA ROAD BANGALORE-560 066 THROUGH ITS SENIOR MANAGER STRESSED ASSET MANAGEMENT MR. SOURABH UIKEY …PETITIONER (BY SRI. VIGNESH SHETTY, ADVOCATE) Digitally signed by SHAKAMBARI Location: High Court of Karnataka - 2 - NC: 2025:KHC:16986-DB WP No. 14693 of 2022 AND: 1. THE KARNATAKA REAL ESTATE APPELLATE TRIBUNAL REAL ESTATE REGULATORY AUTHORITY KARNTAKA, 2ND FLOOR SILVER JUBLI BLOCK UNITY BUILDING, CSI COMPOUND 3RD CROSS, MISSION ROAD BENGALURU-560 027 REPRESENTED BY REGISTRAR 2. OZONE URBANA INFRA DEVELOPERS PVT LTD A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT NO.38, ULSOOR ROAD BANGALORE-560 042 REPRESENTED BY ITS AUTHORISED SIGNATORY 3. MR. M.P. SAJUMON S/O MR. M.K. PANKAJAKSHAN AGED ABOUT 44 YEARS 4. MRS. AKSHATHA SAJUMON W/O MR. SAJUMON AGED ABOUT 40 YEARS BOTH RESPONDENTS NO.3 & 4 RESIDING AT VILLA NO.3 FORCE AVENUE ORCHID WOOD LAYOUT BEHIND BROOKFILEDS KUNDALAHALLI BENGALURU …RESPONDENTS (BY SRI. DEVAIAH I.S, ADVOCATE FOR R1; R2 SERVED AND UNREPRESENTED; SRI. D.V. JOSHI, ADVOCATE FOR SMT. KAVITHA DAMODARAN, ADVOCATE FOR R3 & R4) - 3 - NC: 2025:KHC:16986-DB WP No. 14693 of 2022 THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF CERTIORARI QUASHING THE IMPUGNED ORDER DATED 07.06.2022 VIDE ANNEXURE-A ISSUED BY THE RESPONDENT No-1 AS THE SAME IS CONTRARY TO EQUITY AND NATURAL JUSTICE AND ISSUE A WRIT OF CERTIORARI QUASHING THE ORDER DATED 08.04.2022 PASSED BY THE RESPONDENT No-1 AS BARRED BY THE PROVISO TO PROVISO TO ORDER 1, RULE 9 OF THE CODE OF CIVIL PROCEDURE, 1908 AND IS ARBITRARY, ILLEGAL AND IS BEYOND THE AUTHORITY ANNEXURE-H3 AND ETC. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE KRISHNA S DIXIT and HON'BLE MR JUSTICE RAMACHANDRA D. HUDDAR ORAL ORDER (PER: HON'BLE MR JUSTICE KRISHNA S DIXIT) The order impugned in Writ Jurisdiction is appealable under Section 58 of the Real Estate (Regulation and Development) Act, 2016, and in our considered view, it is both an alternate and equally, if not more, efficacious remedy. Therefore, we agree with submission of learned - 4 - NC: 2025:KHC:16986-DB WP No. 14693 of 2022 Senior Advocate Sri. D.V.Joshi, appearing for the respondents that a writ remedies cannot be granted. Accordingly, the Writ Petition is disposed off reserving liberty to the petitioner to avail appropriate remedy in accordance with law. All contentions are kept open. It hardly needs to be stated that a period spent in prosecuting this petition is liable to be discounted while computing the period of limitation prescribed for preferring the appeal or taking up such other proceedings, consistently with Section 14 of the Limitation Act, 1963. Sd/- (KRISHNA S DIXIT) JUDGE Sd/- (RAMACHANDRA D. HUDDAR) JUDGE AM List No.: 1 Sl No.: 1