- 1 - NC: 2025:KHC:2618 WP No. 35193 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 22ND DAY OF JANUARY, 2025 BEFORE THE HON'BLE MR JUSTICE R DEVDAS WRIT PETITION NO. 35193 OF 2024 (GM-RES) BETWEEN: M/S LITTLE STARS EDUCATIONAL TRUST VIDHYAGIRI, KADAPALL MOODABIDRI TALUK DAKSHINA KANNADA -574227 REP BY ITS SECRETARY MR. P H ISMAILI SON OFLATE P HUSSAIN BEARY AGED ABOUT 63 YEARS. …PETITIONER (BY SRI. HANEEF M H., ADVOCATE) AND: THE AUTHORIZED OFFICER M/S INDIAN OVEREAS BANK ARM BRANCH, NO 10/1 3RD FLOOR, LAKSHMNARYANA COMPLEX PALACE ROAD, VASANTH NAGAR BENGALURU- 560052. …RESPONDENT THIS W.P. IS FILED UNDER ARTICLES 226 & 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE IMPUGNED SALE NOTICE OF IMMOVABLE SECURED ASSETS ISSUED UNDER RULE 8(6) AND 9(1) OF SECURITY INTEREST (ENFORCEMENT) RULES, 2002 FOR AUCTION OF THE SECURED ASSETS TO BE SCHEDULED ON 27.12.2024 ISSUED BY THE RESPONDENT BANK (ANNX-H) DTD. 02.12.2024 AND ETC. Digitally signed by DHARMALINGAM Location: HIGH COURT OF KARNATAKA - 2 - NC: 2025:KHC:2618 WP No. 35193 of 2024 THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE R DEVDAS ORAL ORDER Matter is called out. There is no representation for the petitioner. This Court had passed the following order on 24.12.2024: “Heard learned counsel for the petitioner. Issue notice to the respondent. Though this Court is not inclined to accept this petition on the ground of maintainability, learned counsel for the petitioner submits that the petitioner is running a school affiliated by the Central Board of Secondary Education from 1st to 10th standard and having more than 1,200 students pursuing their education. Due to Covid- 19 pandemic, the petitioner-Trust was unable to repay the amount borrowed from the respondent- Bank. Proceedings were initiated for E-auction Sale is scheduled to be conducted on 27.12.2024, by virtue of the impugned order at Annexure-H. Learned counsel for the petitioner submits that he is ready and willing to pay the principal amount of Rs.22,01,945/- on or before 27.12.2024. - 3 - NC: 2025:KHC:2618 WP No. 35193 of 2024 Petitioner has agreed to pay the balance outstanding amount and also seeks to explore the possibility of One Time Settlement (for short 'OTS') scheme with the respondent-Bank. Considering the facts that the petitioner is running a Educational institution having more than 1,200 students from 1st to 10th standard, marginal indulgence is shown by this Court, there shall be stay of the E-auction sale to be held on 27.12.2024 vide Annexure-H subject to the petitioner depositing Rs.22,01,945/- on or before 27.12.2024. Petitioner thereafter shall pay 50% of the amount, outstanding due within four weeks and also he is permitted to explore the possibility of OTS scheme with the respondent Bank. If the above conditions is not complied, the interim order would not enure to the benefit of petitioner. The respondent would be at liberty to proceed in accordance with law. Call this matter on 22.01.2025. Hand delivery of this order is permitted.” 2. No information is placed on record to show compliance of the directions issued by this court. - 4 - NC: 2025:KHC:2618 WP No. 35193 of 2024 3. Consequently, the writ petition stands dismissed. Sd/- (R DEVDAS) JUDGE DL CT: JL