- 1 - HC-KAR NC: 2025:KHC:38296 WP No. 7468 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 23RD DAY OF SEPTEMBER, 2025 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 7468 OF 2025 (GM-RES) BETWEEN: 1. SRI.CHETHAN KUMAR A S/O LATE ASHWATHNARAYANA K AGED ABOUT 44 YEARS R/AT FLAT NO. 212, A BLOCK 1 FLOOR, MAJESTIC RESIDENCY, TAVAREKERE MAIN ROAD, BENGALURU 560029. 2. SMT. SUBHADRA W/O LATE. ASHWATHANARAYANA K AGED ABOUT 68 YEARS R/AT NO. 26, MAJESTIC RESIDENCY TAVARAKERE MAIN ROAD BENGALURU 560029. 3. SRI. CHANDRASHEKAR A S/O LATE. ASHWATHANARAYANA K AGED 45 YEARS R/AT NO. 26, MAJESTIC RESIDENCY TAVARAKERE MAIN ROAD BENGALURU 560029. Digitally signed by VANAMALA N Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:38296 WP No. 7468 of 2025 4. SMT. SOWMYA D/O LATE ASHWATHANRAYANA K AGED 37 YEARS R/AT NO. 239, 6TH CROSS 12TH MAIN ROAD, HSR LAYOUT, 5TH SECTOR BENGALURU 560102. 5. SMT. VEENA S W/O CHETHAN KUMAR A AGED 38 YEARS R/AT NO. FLAT NO. 212, A BLOCK 1ST FLOOR, MAJESTIC RESIDENCY, TAVAREKERE MAIN ROAD, BENGALURU 560029. 6. SMT VANITHA W/O CHANDRASHEKAR A AGED ABOUT 39 YEARS R/AT NO. 26, MAJESTIC RESIDENCY TAVAREKERE MAIN ROAD BENGALURU 560029. …PETITIONERS (BY SRI. BOJANNA K J.,ADVOCATE) AND: M/S.SWABHIMANI SOUHARDA CREDIT CO OPERATIVE LTD., HEAD OFFICE AT NO. 125 1ST FLOOR, KAVI LAKSHMEESHA DIAGONAL ROAD, V V PURAM - 3 - HC-KAR NC: 2025:KHC:38296 WP No. 7468 of 2025 BENGALURU 560004 REP. BY ITS AUTHORIZED SIGNATORY SRI. C THIRUPALA REDDY REG UNDER KARNATAKA SOUHARDA SAHAKAR ACT, 1997. …RESPONDENT (BY SRI. MALLA REDDY B V.,ADVOCATE) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO- QUASH THE ORDER PASSED BY THE CHIEF METROPOLITAN MAGISTRATE, BENGALURU IN CRL. MISC. NO. 8396/2024 AS PER ANNX-C DATED 19.12.24 QUASH POSSESSION NOTICE DATED 22.01.2024 ISSUED BY THE RESPONDENT BANK ON THE PETITIONER SCHEDULE PROPERTY AT ANNX-B; DIRECT TO THE RESPONDENT BANK TO CONSIDER THE REPRESENTATION OF THE PETITIONER SEEKING FOR REGULARIZATION OF ACCOUNT AND TO CONSIDER THE OPTION FOR OTS SCHEME. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD ORAL ORDER The petitioners are aggrieved by the proceedings initiated by the respondent for recovery of its Secured Asset. This Court, on 14.03.2025, has - 4 - HC-KAR NC: 2025:KHC:38296 WP No. 7468 of 2025 granted interim order against precipitation, and again on 18.03.2025, this Court has stipulated that Rs.30,00,000/- must be deposited within certain timelines. On 19.08.2025, the learned counsel for the petitioners has submitted that a sum of Rs.15,00,000/- is deposited and the next Rs.15,00,000/- would be deposited within 15 days. This Court has therefore adjourned the petition to be listed today continuing the interim order. The learned counsel for the petitioners makes another request for adjournment to pay the remaining Rs.15,00,000/- as stipulated by this Court way back in the month of March 2025. Crucially, it cannot be gainsaid that if the petitioners are aggrieved by the proceedings initiated under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for short 'the SARFAESI Act'] with the issuance of notice as contemplated thereunder, they should avail - 5 - HC-KAR NC: 2025:KHC:38296 WP No. 7468 of 2025 alternative remedy. The petitioners are unable to persuade this Court, especially with the default as aforementioned, to justify an interference under Article 226 of the Constitution of India . As such, the following: ORDER The petition stands disposed of without prejudice to the petitioners' right to avail alternative remedy leaving it open to the Debt Recovery Tribunal, if the petitioners avail such remedy, to examine whether the petitioners must be permitted exemption of the time spent in prosecuting this petition. Sd/- (B M SHYAM PRASAD) JUDGE NV