- 1 - HC-KAR NC: 2025:KHC:29949 WP No. 27009 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 31ST DAY OF JULY, 2025 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 27009 OF 2024 (GM-RES) BETWEEN: M/S N S ENTERPRISES A PARTNER SHIP FIRM NO.MF 18 YADAVAGIRI INDUSTRIAL AREA YADAVAGIRI MYSORE 570020 REP BY ITS MANAGING PARTNER SARVESH K R S/O T K RAMU AGED ABOUT 50 YEARS R/AT 31 SAVITHA NILAYA MANASARA ROAD ITTIGEGUD MYSORE 570010 …PETITIONER (BY SRI. GIRISHA N R.,ADVOCATE) AND: SOUTH INDIAN BANK HAVING ITS OFFICE AT SIB ARCADE NO.61 WHEELER ROAD COXTOWN BANGALORE 560005 REP BY ITS MANAGER. …RESPONDENT (BY SRI. FRANCIS XAVIER., ADVOCATE) Digitally signed by VANAMALA N Location: High Court of Karnataka - 2 - HC-KAR NC: 2025:KHC:29949 WP No. 27009 of 2024 THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH E AUCTION SALE NOTICE BEARING NO. RO-BNGL/258/SALE/97/2024-25 DATED 12-08- 2024 AND THE IMPUGNED NOTICE DATED 19.9.24 UNDER SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002 AND RULES AT ANNEXURE-A AND B. 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 proceedings initiated by the respondent under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for short, 'SARFAESI Act'] and these proceedings are for sale of the secured assets. This Court, on 30.09.2024, has granted interim order subject to deposit of 25% of the outstanding amount. It is stated that such amount is also deposited. Mr. Francis Xavier, the learned counsel for the respondent, submits that the petition is rendered - 3 - HC-KAR NC: 2025:KHC:29949 WP No. 27009 of 2024 infructuous as no sale is held in terms of the impugned proceedings, and therefore, the petition may be disposed of with just liberty to the respondent. Mr. N. R. Girisha, the learned counsel for the petitioner, submits that the petitioner is willing to settle the entire dues if reasonable time is granted. In rejoinder, Mr. Francis Xavier submits that though a letter is submitted in this regard in the month of August 2024, no measure is taken in all these months. This Court must dispose of the petition as having infructuous with liberty to the respondent to initiate action as is permissible in law. Insofar as the petitioner's offer to settle the dues, it would suffice to observe that if action is taken in this regard to the respondent's satisfaction, there would be no reason for further proceedings. Observing accordingly, the petition stands disposed of. However, it is clarified that if there is any cause to the petitioner, it must be - 4 - HC-KAR NC: 2025:KHC:29949 WP No. 27009 of 2024 agitated only in terms of the remedy under the provisions of the SARFAESI Act. SD/- (B M SHYAM PRASAD) JUDGE RB