- 1 - HC-KAR NC: 2025:KHC:32550 WP No. 10325 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 21ST DAY OF AUGUST, 2025 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 10325 OF 2025 (GM-RES) BETWEEN: BRIJESH RAMDEV YADAV, AGED ABOUT 44 YEARS S/O RAMDEV MATHORAN YADAV, NO. 15/5/1, VIRAT RESIDENCY, 1ST CROSS, JEEVAN KENDRA LAYOUT, CAMBRIDGE ROAD, HALASURU, BANGALORE-560008. …PETITIONER (BY SRI. ABHIJEET SHARMA.,ADVOCATE) AND: 1. NATIONAL HOUSING BANK THROUGH ITS MANAGING DIRECTOR CORE 5-A, INDIA HABITAT CENTRE, LODHI ROAD, NEW DELHI-110003. 2. RESERVE BANK OF INDIA, (UNDER RBI ACT) THROUGH ITS GOVERNOR 6, SANSAD MARG, NEW DELHI-110001. 3. UNION OF INDIA THROUGH SECRETARY, MINISTRY OF FINANCE Digitally signed by VANAMALA N Location: High Court of Karnataka - 2 - HC-KAR NC: 2025:KHC:32550 WP No. 10325 of 2025 RAJPATH MARG, E-BLOCK, CENTRAL SECRETARIAT NEW DELHI-110011. 4. TRANS UNION CIBIL LIMITED (UNDER COMPANIES ACT 1956) FORMERLY CREDIT INFORMATION BUREAU (INDIA) LIMITED, THROUGH ITS MANAGING DIRECTOR ONE WORLD CENTRE, TOWER 2A, 19TH FLOOR, SENAPATI BAPAT MARG, ELPHINSTONE ROAD, MUMBAI - 400013. 5. STATE BANK OF INDIA (INCORPORATED UNDER RBI) STATE BANK BHAWAN, M.C. ROAD, NARIMAN POINT, MUMBAI-400021. THROUGH ITS CHAIRMAN. 6. OZONE URBANA INFRA DEVELOPERS PVT LTD (UNDER COMPANIES ACT 1956) THROUGH ITS MANAGING DIRECTOR NO.38, ULSOOR ROAD BANGALORE-560042. 7. SATHYA MOORTHY SAI PRASAD DIRECTOR, OZONE URBANA INFRA DEVELOPERS PVT LTD NO.38, ULSOOR ROAD BANGALORE- 560042. 8. VASUDEVAN SATHYAMOORTHY DIRECTOR, OZONE URBANA INFRA DEVELOPERS PVT LTD NO.38, ULSOOR ROAD BANGALORE- 560042. 9. KARNATAKA REAL ESTATE REGULATORY AUTHORITY - 3 - HC-KAR NC: 2025:KHC:32550 WP No. 10325 of 2025 THROUGH ITS CHAIRMAN SECOND FLOOR SILVER JUBILEE BLOCK 3RD CROSS ROAD, CSI COMPOUND, MISSION RD, SAMPANGI RAMA NAGARA, BENGALURU - 560027. …RESPONDENTS (BY SRI.SUDEEP V.C., CGSC FOR R3; MS. VARSHITHA K, ADVOCATE FOR SRI. DEEPAK BHASKAR, ADVOCATE C/R-6) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO A) ALLOW THE PRESENT PETITION; B) ISSUE APPROPRIATE ORDER OR DIRECTION TO THE RESPONDENT BANK (RESPONDENT NO.5) TO CEASE AND DESIST FROM RECOVERING EMI PAYMENTS FROM THE PETITIONER; C) DIRECT THE RESPONDENT NO. 6, 7 AND 8 DEVELOPERS TO PAY PRE-EMI/EMIS; D) DIRECT THE RESPONDENT BANK (RESPONDENT NO.5) TO RESTRAIN FROM ANY PRECIPITATIVE ACTION INCLUDING BUT NOT LIMITED TO ANY CIVIL OR CRIMINAL PROCEEDINGS IN ORDER TO RECOVER THE PURPORTED LOAN CEASE TO TAKE ANY COERCIVE ACTIONS DURING THE PENDENCY OF THE PRESENT PETITION; E) DIRECT THE RESPONDENT-BANK TO REFUND THE PRE-EMIS/FULL EMIS PAID BY PETITIONER; F) DIRECT THE RESPONDENT 4 AND 5 TO - 4 - HC-KAR NC: 2025:KHC:32550 WP No. 10325 of 2025 REMOVE THE NAME OF THE PETITIONER FROM THE DEFAULTERS LIST OF CIBIL AND TO WITHDRAW ALL THE LEGAL PROCEEDINGS INITIATED AGAINST THE PETITIONER IN RESPECT OF THE LOAN AMOUNT AND INTEREST; G) DIRECT THE RESPONDENT BANK TO RECOVER THE OUTSTANDING LOANS IN QUESTION FROM RESPONDENT DEVELOPER (RESPONDENT 6, 7 AND 8); H) DIRECT THE RESPONDENT BANK TO REFRAIN FROM TAKING ANY FURTHER ACTION TO RECOVER ANY PRE-EMI AMOUNTS FROM THE PETITIONER AS SUCH PAYMENTS ARE PREMATURE AND UNLAWFUL UNTIL THE PETITIONER IS DELIVERED POSSESSION OF THE PROPERTY; I) DIRECT THE RESPONDENT 9 TO DISPOSE THE COMPLAINT FILED BY THE PETITIONER WITHIN 60 DAYS AS PER THE PROVISIONS OF THE RERA ACT. COPY OF THE RERA COMPLAINT FILED BY THE PETITIONER IS ANNEXED HERETO AND MARKED AS ANNEXURE-E. THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD - 5 - HC-KAR NC: 2025:KHC:32550 WP No. 10325 of 2025 ORAL ORDER The petitioner, a purchaser who has entered into an agreement with the sixth respondent for purchase of an apartment relying upon a Tripartite Agreement concluded by him with the sixth and fifth respondents, has sought for directions to the fifth respondent to desist from recovering EMIs. The petitioner also seeks further directions such as for direction to remove his name from the defaulters list of CIBIL and to recover the outstanding from the Developer. Sri Abhijeeth Sharma, the learned counsel for the petitioner, to support the petitioner's case as aforesaid contends that the petitioner's cause stems from the assertion that the fifth respondent has agreed to disburse the loan to the sixth respondent based on the progress in construction but the fifth respondent is in default on that score in disbursing - 6 - HC-KAR NC: 2025:KHC:32550 WP No. 10325 of 2025 the entire amount in one go resulting in a delayed project and a burden on the petitioner to pay EMI without possession of the property. Mrs.Varshitha K., the learned counsel who appears for the sixth respondent - the Developer, refutes the cause ascertaining that the Tripartite Agreement stipulates that if there is any default even by the Developer, it would be the petitioner's obligation as a borrower to discharge the debt. Sri.Sudeep V.C., the learned Central Government Standing Counsel, is heard in the light of the afore and this Court's view in W.P.No.23590/2025 [GM- RES] [disposed of on 05.08.2025] that if the parties to the Tripartite Agreement are aggrieved by any default by the other, they must necessarily defend their interests in properly instituted proceedings and there would be no occasion for this Court to intervene under Article 226 of the Constitution of India. - 7 - HC-KAR NC: 2025:KHC:32550 WP No. 10325 of 2025 This Court is of the view that in the present fact matrix as well, and especially with the petitioner acknowledging that he has already approached the authority under the Real Estate (Regulation and Development) Act, 2016 there cannot be any interference and the petition must be disposed of without prejudice to the petitioner to prosecute the remedies that would otherwise be available to him. The petition stands disposed of accordingly Sd/- (B M SHYAM PRASAD) JUDGE SA ct:sr