- 1 - HC-KAR NC: 2025:KHC:21757 WP No. 16967 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 23RD DAY OF JUNE, 2025 BEFORE THE HON'BLE MR JUSTICE S SUNIL DUTT YADAV WRIT PETITION NO. 16967 OF 2025 (GM-RES) BETWEEN: 1. MR ASHWATH M L S/O LOKESH AGED ABOUT 37 YEARS R/A PROPERTY NO 2/B MOODALAKOPPALU VILLAGE K R NAGARA TALUK MYSURU DISTRICT. 2. SMT JYOTHI A W/O MR ASHWATH AGED ABOUT 30 YEARS R/AT PROPERTY NO 2/B MOODALAKOPPALU VILLAGE K R NAGARA TALUK MYSURU DISTRICT. 3. MR. PAPEGOWDA S/O LATE MR KARIGOWDA AGED ABOUT 59 YEARS RA/T GUDUGANAHALLI KR PET TALUK MANDYA DISTRICT. …PETITIONERS (BY SRI. HRITHIK GOWDA K V., ADVOCATE) AND: 1. M/S MANAPURAM HOME FINANCE LTD HAVING ITS BRANCH OFFICE AT SARASWATHIPURAM, MYSURU REPRESENTED BY ITS Digitally signed by VIDYA G R Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:21757 WP No. 16967 of 2025 MR MANCHAIAH M S/O MR MANCHAIAH AGED ABOUT 40 YEARS …RESPONDENT (BY SRI. B S MAHENDRA., ADVOCATE AND SRI. ANISH JOSE ANTONY, ADVOCATE) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE SARFESI 14 OF THE ORDER DATED 04-06-2025 UNDER SECTION SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 IN CRL.MISC NO.101/2025 BEFORE THE HONBLE II ADDITIONAL SENIOR CIVIL JUDGE AND CJM AT MYSURU VIDE ANNEXURES A. 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 The petitioners have sought for a direction to set aside the order dated 04.06.2025 passed under Section 14 of the SARFAESI Act in Crl.Misc.No.101/2025 before the II Additional Senior Civil Judge and CJM at Mysuru. 2. Learned counsel appearing for the respondent Bank upon appearance has filed a copy of the communication addressed to the petitioners. It is stated that, if an amount of Rs.3.00 lakh is paid, the loan would be 'standardized' and - 3 - HC-KAR NC: 2025:KHC:21757 WP No. 16967 of 2025 regularized and the petitioners can then continue to pay the EMIs as is fixed. 3. In light of the said submission, the petition is disposed off and in the event, the petitioners were to pay a sum of Rs.3.00 lakh within a period of three weeks, the respondent Bank is to take necessary steps to regularize the loan account of the petitioners. 4. Needless to state that, in light of the stand of respondent Bank, no precipitative steps be taken pursuant to the order at Annexure-'A'. All contentions, including as regards the impugned order kept open. The contention relating to calculation of amount due are kept open to be sorted out between the parties. 5. It is also needless to state that, if no action is taken within the time stipulated herein, the respondent Bank is at liberty to proceed further against the petitioners. Sd/- (S SUNIL DUTT YADAV) JUDGE VGR