- 1 - HC-KAR NC: 2025:KHC:40686 WP No. 12655 of 2020 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 14TH DAY OF OCTOBER, 2025 BEFORE THE HON'BLE MR. JUSTICE E.S. INDIRESH WRIT PETITION NO.12655 OF 2020 (GM-RES) BETWEEN: 1. VISHWA BHARATHI VIDYA MANDIR REP. BY ITS PRESIDENT, MR. T. BALKRISHNA NO.331/1. 17TH CROSS, 5TH BLOCK RAJAJINAGAR, BENGALURU - 560 010. 2. M/S ST. ANN'S EDUCATION SOCIETY REP. BY ITS PRESIDENT, MR. T. BALAKRISHNA, NO.742, 6TH BLOCK, DR. RAJKUMAR ROAD, RAJAJINAGAR, BENGALURU - 560 010. 3. MR. T. BALAKRISHNA S/O MR. CHIKKATHAYAPPA, AGED ABOUT 63 YEARS, R/AT NO.987, 1ST BLOCK, 1ST STAGE, 11TH MAIN, BASAVESHWARA NAGARA, BENGALURU - 560 079. 4. DR. SULOCHANA BALAKRISHNA W/O MR. T. BALAKRISHNA, AGED ABOUT 60 YEARS, R/AT NO.987, 1ST BLOCK, 1ST STAGE 11TH MAIN, BASAVESHWARA NAGAR, BENGALURU - 560 079. 5. MR. B. VENKATESH S/O MR. T. BALAKRISHNA, Digitally signed by ARUNKUMAR M S Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:40686 WP No. 12655 of 2020 AGED ABOUT 38 YEARS, R/AT NO. 987, 1ST BLOCK, 1ST STAGE, 11TH MAIN, BASAVESHWARA NAGAR, BENGALURU - 560 079. 6. MR. B. SHEKHAR S/O MR. T. BALAKRISHNA, AGED ABOUT 60 YEARS, R/AT NO.987, 1ST BLOCK, 1ST STAGE 11TH MAIN, BASAVESHWARA NAGAR, BENGALURU - 560 079. …PETITIONERS (BY SRI. PRASANNA V.R., ADVOCATE) AND: 1. M/S THE SARASWAT CO-OP BANK LTD., A BANK REGISTERED UNDER THE PROVISIONS OF THE BOMBAY CO-OP. SOCIETIES ACT, 1925 AND DEEMED TO BE REGISTERED UNDER THE MAHARASHTRA CO-OP. SOCIETIES ACT, 1960 AND ALSO MULTI-STATE CO-OP. SOCIETIES ACT, 2002, HAVING ITS BRANCH OFFICE AT: SOGO PROPERTIES, SITE NO.47, 100 FEET ROAD 4TH BLOCK, WARD NO.68, KORAMANGALA, BENGALURU - 560 034. REP. BY ITS GENERAL MANAGER. 2. M/S PHOENIX ARC PVT. LTD. A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956 AND REGISTERED AS A SECURITIZATION AND ASSET RECONSTRUCTIN COMPANY, HAVING ITS REGISTERED OFFICE AT: DANI CORPORATE PARK, 7TH FLOOR, 158, CST ROAD, KALINA, SANTA CRUZ (E), MUMBAI - 400 098. REP. BY ITS COMPANY SECRETARY-CUM- AUTHORIZED OFFICER. …RESPONDENTS (BY SRI. B.C. AVINASH, ADVOCATE FOR C/R2) - 3 - HC-KAR NC: 2025:KHC:40686 WP No. 12655 of 2020 THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO DECLARE THAT THE ACTION OF THE RESPONDENT NO.2- PHOENIX ARC, A PRIVATE LIMITED COMPANY REPRESENTED BY THE AUTHORIZED OFFICER ASSUMING AND EXERCISING POWER UNDER SECTION 13(4) OF THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002 BY ISSUING SO CALLED POSSESSION NOTICE DATED 16TH OCTOBER, 2020 VIDE ANNEXURE-A, IS VOID AND UNENFORCEABLE; QUASH THE NOTICE TO TAKE POSSESSION DATED 16TH OCTOBER, 2020 ISSUED BY THE RESPONDENT NO.2-COMPANY VIDE ANNEXURE-A; AND ETC. THIS PETITION COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE E.S. INDIRESH ORAL ORDER Learned counsel appearing for petitioners submitted that the relief sought for in the present petition has become infructuous. 2. The said submission is taken on record. 3. Accepting the submission made by learned counsel appearing for petitioners, writ petition is dismissed as having become infructuous. SD/- (E.S. INDIRESH) JUDGE ARK List No.: 1 Sl No.: 20