- 1 - HC-KAR NC: 2025:KHC:28981 WP No. 21992 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 28TH DAY OF JULY, 2025 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 21992 OF 2025 (GM-RES) BETWEEN: M/S PROPCARE DEVELOPERS PVT LTD (PRIVATE LIMITED) EARLIER KNOWN AS M/S MANTRI DEVELOPERS C-5, RICH HOMES, NO 5/1. RICHMOND ROAD, BANGALORE, KARNATAKA, POSTAL CODE 560025 REP BY ITS AUTHORIZED SIGNATORY MR. GIRISH GUPTA HS. 2. M/S MANTRI HOMES PVT LTD A COMPANY INCORPORATED UNDER THE INDIAN COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT MANTHRI HOUSE, 41, VITTAL MALYA ROAD, BANGALORE-560011 REP BY ITS AUTHORIZED SIGNATORY MR. GIRISH GUPTA H S. …PETITIONERS (BY SMT. VANDANA P L.,ADVOCATE) AND: 1. UNION OF INDIA MINISTRY OF FINANCE DEPARTMENT OF FINANCE SERVICES, Digitally signed by VANAMALA N Location: High Court of Karnataka - 2 - HC-KAR NC: 2025:KHC:28981 WP No. 21992 of 2025 NEW DELHI, REPRESENTED THE ASG, HIGH COURT OF KARNATAKA, BANGALORE 560001. 2. THE REGISTRAR DEBT REOCOVERY TRIBUNAL BANGALORE-1, REPRESENTED BY ITS REGISTRAR TELECOM BUILDING, BANGALORE 560001. 3. THE INDIA BANK SAM BRANCH NO.10, 1ST FLOOR INDIAN BANK BUILDING, KG ROAD, BANGALORE 560009. BY ITS AUTHORIZED OFFICER. 4. M/S/ KRISHNA PRIYA REALITY LLP LIMITED LIABLITITY PARTNERSHIP NO. 100/1, CITY CENTRE OPPOSITE TOWN HALL JC ROAD, BENGALURU - 560 002. …RESPONDENTS (BY SRI.H. SHANTHI BHUSHAN., DSGI FOR R1; SRI. K.R. PARASHURAM, ADVOCATE FOR R3; VIDE ORDER DATED 23.07.2025 NOTICE TO R2 D/W) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE AN APPROPRIATE WRIT DECLARING THAT THE IMPUGNED NOTIFICATION OF MINISTRY OF FINANCE (DEPARTMENT OF FINANCIAL SERVICES) NOTIFICATION NEW DELHI, THE 4TH OCTOBER, 2022 S.O. 4717(E) PUBLISHED IN GOVERNMENT OF - 3 - HC-KAR NC: 2025:KHC:28981 WP No. 21992 of 2025 EXTRAORDINARY INDIA GAZETTE VIZ. CG-DL-E- 06102022-239351. EXTRAORDINARY PART II-SECTION 3-SUB-SECTION (II) PUBLISHED BY AUTHORITY, NO. 4509) NEW DELHI, TUESDAY, OCTOBER 4. 2022/ASVINA 12, 1944, VIDE ANNEXURE-A TO THE WRIT PETITION IS BAD AND UNSUSTAINABLE UNDER LAW; 2. ISSUE AN APPROPRIATE WRIT QUASHING THE IMPUGNED NOTIFICATION OF MINISTRY OF FINANCIAL SERVICES) FINANCE (DEPARTMENT NOTIFICATION NEW DELHI, THE 4TH OCTOBER, 2022 S.O. 4717(E) PUBLISHED IN GOVERNMENT OF INDIA EXTRAORDINARY GAZETTE VIZ. CG-DL-E-06102022 239351. EXTRAORDINARY PARTLISHED BY AUTHORITY, NO. 4509 NEW DELHI TUESDAY, OCTOBER 4, 2022/ABVINA 12, 1944, VIDE ANNEXURE-A TO THE W.P. 3. DIRECTING THE DIRT (DEBT RECOVERY TRIBUNAL BANGALORE TO ACCEPT THE PETITIONERS APPLICATION/E UNDER SECTION 17. OF THE SARPAESI ACT OR ANY SUCH PETITION AGAINST THE INDIAN BANK OF SUCH RESPONDENTS AND DEAL IT IN ACCORDANCE WITH THE LAW BY EXERCISING THE JURISDICTION VESTED IN IT UNDER LAW AND MORE PARTICULARLY BY VIRTUE OF PROVISION OF SARFAESI ACT. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 4 - HC-KAR NC: 2025:KHC:28981 WP No. 21992 of 2025 CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD ORAL ORDER The previous order passed by this Court on 24.07.2025 reads as under: "Sri Manu Kulkarni, learned counsel appearing for the auction purchaser submits that the proceedings is taken before the Debt Recovery Tribunal at Chennai in S.A.(DY) No.69/2025. Petitioner to verify and submit. List the matter on 28.07.2025." The learned counsel for the petitioner submits, in the light of the afore details, that the petition is rendered infructuous. This Court must also observe that if the petitioners have availed remedy as available in law, they cannot be permitted to pursue this petition. Hence, the petition is disposed of subject to all just exceptions in law. Sd/- (B M SHYAM PRASAD) JUDGE NV