- 1 - HC-KAR NC: 2025:KHC:38140 WP No. 6229 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 22ND DAY OF SEPTEMBER, 2025 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 6229 OF 2025 (GM-RES) BETWEEN: 1. SRI. SAGAR V IYER S/O S VENUGOPAL, AGED ABOUT 35 YEARS, R/AT NO.57,. E-KHATHA NO. 150200100200100908 PROPERTY NO.591/57, BIDARAGUPPE GRAM PANCHAYATH, FORMED IN CONVERTED LAND, IN SY NO.571, SITUATED AT BIDARAGUPPE VILLAGE, ATTIBELE HOBLI, ANEKAL TALUK, BENGALURU. 2. SRI SURYANARAYANA VENUGOPAL S/O SURYANARAYANA, AGED ABOUT 64 YEARS, R/AT NO.57,. E-KHATHA NO. 150200100200100908 Digitally signed by VANAMALA N Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:38140 WP No. 6229 of 2025 PROPERTY NO.591/57, BIDARAGUPPE GRAM PANCHAYATH, FORMED IN CONVERTED LAND, IN SY NO.571, SITUATED AT BIDARAGUPPE VILLAGE, ATTIBELE HOBLI, ANEKAL TALUK, BENGALURU. …PETITIONERS (BY SRI. VINAYA KUMAR N D., ADVOCATE) AND: THE AUTHORIZED OFFICER CANARA BANK, ATTIBELE BRANCH, 728-A LAKSHMI COMPLEX, ATTIBELE, SARJAPURA ROAD, ANEKAL TALUK, BENGALURU DISTRICT-562107 …RESPONDENT (BY SRI. VIKRAM UNNI RAJAGOPAL., ADVOCATE) THIS WRIT PETITION IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE IMPUGNED ORDER DATED 10-02-2025 PASSED IN C.MISC. NO.99/2025 PASSED BY THE HON'BLE CHIEF JUDICIAL MAGISTRATE, BENGALURU RURAL - 3 - HC-KAR NC: 2025:KHC:38140 WP No. 6229 of 2025 DISTRICT DIRECTING TO PAY RS. 18,96,029.56 (RUPEES EIGHTEEN LAKHS NINTY SIX THOUSAND TWENTY NINE RUPEES FIFTY SIX PAISA) AND ALLOWING THE PETITION FILED BY THE RESPONDENT BANK UNDER SECTION 14 OF THE SARFESI ACT IN RESPECT OF THE SCHEDULE PROPERTY, IN RESPECT OF LOAN ACCOUNT NO.04299740000121 VIDE ANNEXURE-A. 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 order dated 10.02.2025 in C.Mis.99/2025 by the Chief Judicial Magistrate, Bengaluru Rural District under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for short 'the SARFAESI Act']. This Court, on 04.03.2025, has granted interim order staying the petitioners' dispossession from the Secured Asset subject to the petitioner depositing - 4 - HC-KAR NC: 2025:KHC:38140 WP No. 6229 of 2025 20% of the amount due within eight weeks [from such date] while also providing that if there is any default the interim order granted shall automatically stand vacated. Presently, the petitioners have filed an application for stay of the e-auction proposed to be held on 20.09.2025. Sri Vikram Unni Rajagopal, the learned counsel for the respondent, submits that the auction could not be completed on 20.09.2025 for want of bids and the learned counsel also emphasizes that the petitioners have not complied with the interim orders, an assertion which is contested by Sri Vinayakumar N.D., who also submits that the petitioners are keen to settle the loan to save the Secured Asset. This Court must observe that the petitioner, because of the turn of events, must avail remedy under Section 17 of the SARFAESI Act for complete adjudication. As such, the petition must stand - 5 - HC-KAR NC: 2025:KHC:38140 WP No. 6229 of 2025 disposed of accordingly and insofar as the petitioners' keenness to settle the dispute it should be open to them, but that could be no reason for any orders by this Court. The question of limitation must be kept open to be considered in the proceedings under Section 17 of the SARFAESI Act, if the petitioner avails such remedy. In the light of the afore, the following ORDER The petition stands disposed of with liberty to the petitioners subject to all just exceptions to avail remedy under Section 17 of the SARFAESI Act relying on the turn of events. All questions [including the question of limitation] are left open to be decided in the appropriate proceedings. Sd/- (B M SHYAM PRASAD) JUDGE NV List No.: 3 Sl No.: 16