- 1 - HC-KAR NC: 2025:KHC:29021 WP No. 24961 of 2023 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. 24961 OF 2023 (GM-RES) BETWEEN: MR. GIRISHA S/O MAREGOWDA, AGED ABOUT 41 YEARS, R/AT NO 609, 4TH MAIN ROAD, BHEL LAYOUT, 2ND STAGE, BENGALURU SOUTH, RAJARAJESHWARINAGAR, BENGALURU 560098 PAN AIUPG0063H …PETITIONER (BY SMT. MONISHA M, ADVOCATE FOR SMT. KAVITHA D.,ADVOCATE) AND: CHOLAMANDALAM INVESTMENT AND FINANCE COMPANY LTD DARE HOUSE, 2, N S C BOSE ROAD, PARRYS, CHENNAI 600001 REPRESENTED BY ITS AUTHOZISED OFFICER. …RESPONDENT (BY SRI. FRANCIS XAVIER.,ADVOCATE FOR C/R) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO Digitally signed by VANAMALA N Location: High Court of Karnataka - 2 - HC-KAR NC: 2025:KHC:29021 WP No. 24961 of 2023 a) SETTING ASIDE THE SECTION 14 ORDER DATED 19/07/2023 PASSED BY THE LEARNED II ADDL. CHIEF METROPOLITAN MAGISTRATE, IN CRL. MIS 3187/2023 BENGALURU VIDE ANNEXURE-E IN FAVOUR OF THE RESPONDENT, STATING THAT THE ENTIRE RECOVERY PROCEEDINGS INITIATED BY THE RESPONDENT AGAINST THE SCHEDULE PROPERTY ARE ILLEGAL AND IN VIOLATION OF THE SARFAESI ACT, 2002. b) TO ACCEPT THE PETITIONERS REPRESENTATION LETTER DATED 04/11/2023 VIDE ANNEXURE-J FOR CLEARING THE OVERDUE BALANCES ON HIS LOAN ACCOUNTS AND THEREBY PAYING THE EMIS ON A MONTHLY BASIS AND REGULARIZING THE SAME WITH IMMEDIATE EFFECT. 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 petitioner is aggrieved by the commencement of proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for short, the 'SARFAESI Act'], and presently, Sri Francis Xavier, the learned counsel for the respondent, has - 3 - HC-KAR NC: 2025:KHC:29021 WP No. 24961 of 2023 filed a memo which in its material part reads as under: "As the loan account of the Petitioner has been regularized, the measures initiated under the provisions of the SARFAESI Act has been withdrawn by the Respondent. In view of the same, the prayer sought by the Petitioner does not survive for consideration and the Writ Petition may be disposed of accordingly, with a liberty to the Respondent to re-initiate the proceedings under the SARFAESI Act for the further default." The petition stands disposed of as it does not survive for consideration. It is needless to observe that the respondent will be at liberty to have recourse to remedies under the SARFAESI ACT if there is occasion for the same. Sd/- (B M SHYAM PRASAD) JUDGE NV