- 1 - HC-KAR NC: 2025:KHC:20413 WP No. 16505 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 13TH DAY OF JUNE, 2025 BEFORE THE HON'BLE MR JUSTICE S SUNIL DUTT YADAV WRIT PETITION NO. 16505 OF 2025 (GM-RES) BETWEEN: 1. M/S. GSK PROJECTS AND ENGINEERING (P) LTD NO. 530, 15TH MAIN 1ST BLOCK, 3RD STAGE, MANJUNATH NAGAR, BENGALURU-560010, KARNATAKA. REPRESENTED BY IS MANAGING DIRECTOR, MR. GIRISH RAMESWARAPPA. S/O. RAMESWARAPPA. G AGED ABOUT 55 YEARS, R/A. NO. 4, 2ND FLOOR, 9TH CROSS, MAHALAKSHMI LAYOUT, FURTHER EXTENSION, BANGALURU-560056. SHED NO. 2/1, SY NO. 27/2, RAMAIAH INDUSTRIAL AREA, HEROHALLI CROSS, MAHADESWAR NAGAR, VISHWANEEDAM POST, BANGALURU-560091. …PETITIONER (BY SYEDA SHEHNAZ ADVOCATE FOR SRI. N.BALAKRISHNA V., ADVOCATE) AND: 1. CANARA BANK ASSETS RECOVERY MANAGER-II. 2ND FLOOR, SPENCER TOWERS, NO. 86, MG ROAD, BANGALORE-560001. Digitally signed by VIDYA G R Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:20413 WP No. 16505 of 2025 2. THE GENERAL MANAGER CANARA BANK, HEAD OFFICE, J.C. ROAD, BANGALORE-560002 …RESPONDENTS (BY SRI. K.V.LOKESH., ADVOCATE FOR R-1 AND R-2) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA., PRAYING TO QUASHING THE IMPUGNED SALE NOTICE DATED 19TH MAY 2025, REF ARM- 2/GSK/SA/457/2025-2026(T) UNDER SECTION 13(4) OF THE SARFAESI ACT 2002, R/W RULE 8(6) AND (9) OF THE SECURITY INTEREST (ENFORCEMENT) RULES, 2002 ANNEXURE-A, AGAINST THE SCHEDULE IMMOVABLE PROPERTY IN SO FAR AS PETITIONER IS CONCERNED, ETC. THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE S SUNIL DUTT YADAV ORAL ORDER Petitioner has filed the present petition calling in question the validity of the impugned sale notice at Annexure-A. 2. Various contentions have been raised including that the petitioner has paid substantial amount of Rs.1,61,25,867.62 paise. It is submitted that in the opinion of the petitioner all dues are cleared. - 3 - HC-KAR NC: 2025:KHC:20413 WP No. 16505 of 2025 3. Learned counsel for respondent - Bank has filed a memo and submits that the sale proceedings have not been taken to a logical end and has been abandoned. It is submitted that even otherwise there is a substantive remedy available under the SARFAESI Act. It is submitted that even otherwise there is a substantive remedy available under the SARFAECI ACT. Accordingly, the matter may be disposed off. 4. In light of the contentions raised, it would be appropriate to direct the respondent - Bank to furnish entire statement of accounts to the petitioner. Petitioner may thereupon approach the bank for closure of the loan as is permissible in terms of the loan agreement. 5. Accordingly, petition is disposed off. All contentions of both sides are kept open. Sd/- (S SUNIL DUTT YADAV) JUDGE VP