- 1 - NC: 2025:KHC:68 WP No. 35773 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 6TH DAY OF JANUARY, 2025 BEFORE THE HON'BLE MR JUSTICE R DEVDAS WRIT PETITION NO. 35773 OF 2024 (GM-RES) BETWEEN: 1. MRS HEMAVATHI M W/O.BASAVARAJ J. AGED ABOUT 40 YEARS, 2. MR.SIDDESHWARA SWAMY B, S/O. BASAVARAJU J, AGED ABOUT 22 YEARS, BOTH ARE R/AT CHIKKATHURU VILLAGE, SIDDARAHALLI GP, KASABA HOBLI, CHIKKAMAGALURU-577228. …PETITIONERS (BY SRI. KAVITHA N., ADVOCATE) AND: IDFC FIRST BANK LTD REP BY ITS AUTHORIZED OFFICER/LEGAL MANAGER, 1ST AND 2ND FLOOR, (NEAR WATER TANK) GOKUL ROAD, HUBBALLI-580030. …RESPONDENT (BY SRI. NARAYANA SWAMY D., ADVOCATE) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 & 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE ORDER PASSED BY PRL. SENIOR CIVIL JUDGE AND CJM IN CRL.MISC. NO. 151/2024 DATED 19/09/2024 AT CHIKKAMAGALURU VIDE ANN-C AND ISSUE DIRECTIONS TO THE RESPONDENT-BANK NOT TO TAKE PHYSICAL POSSESSION WITHOUT FOLLOWING DUE PROCESS OF LAW AND ETC. Digitally signed by DHARMALINGAM Location: HIGH COURT OF KARNATAKA - 2 - NC: 2025:KHC:68 WP No. 35773 of 2024 THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR JUSTICE R DEVDAS ORAL ORDER The petitioners had borrowed a loan from the respondent-Bank, with the obligation to repay the loan in monthly installments. Due to the petitioners failure to make these payments, the respondent-Bank issued an order under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the ‘SARFAESI Act, 2002’, for short). 2. Learned Counsel for the petitioners submits that the outstanding loan amount is Rs.8,62,080/- even according to the respondent-Bank. Learned Counsel for the respondent-Bank clarifies that the amount is around Rs.8,93,000/-. Nevertheless, both the learned Counsels submit that the writ petition can be disposed of while - 3 - NC: 2025:KHC:68 WP No. 35773 of 2024 issuing directions to the petitioners to regularize the loan account by depositing a minimum sum of Rs.2,50,000/-. 3. Accordingly, the writ petition stands disposed of with a direction to the petitioners firstly to deposit a sum of Rs.2,50,000/- with the respondent-Bank and on deposit of the said sum, the physical possession shall be redelivered to the petitioners by the respondent-Bank. Thereafter, the petitioners shall continue to pay the monthly installments regularly as per the instructions of the respondent-Bank. Should the petitioners fail to adhere to this obligation, the respondent-Bank is authorized to enforce the order issued under Section 14 of the SARFAESI Act, 2002. Ordered accordingly. Sd/- (R DEVDAS) JUDGE DL CT: JL