- 1 - HC-KAR NC: 2025:KHC:33269 WP No. 24399 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 28TH DAY OF AUGUST, 2025 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 24399 OF 2025 (GM-RES) BETWEEN: 1. M/S NAYA INDUSTRIES NO. 36, NEAR BUS STOP, DODDANNA INDUSTRIAL ESTATE, HEGGANAHALLI, BENGALURU - 560091 REPRESENTED BY ITS SOLE PROPRIETOR SHRI. HARSHA S. 2. SHRI. HARSHA S. S/O K.V. SHANKAR, AGED ABOUT 37 YEARS, SOLE PROPRIETOR TO M/S NAYA INDUSTRIES R/A NO. 3692, 11TH CROSS, 8TH MAIN, NEAR ST PHILONEER SCHOOL, KUMARASWAMY LAYOUT, BENGALURU - 560078. 3. SMT. R. BHARATHI W/O K.V. SHANKAR, AGED ABOUT 56 YEARS R/A NO. 3692, 11TH CROSS, 8TH MAIN, NEAR ST PHILONEER SCHOOL, Digitally signed by VANAMALA N Location: High Court of Karnataka - 2 - HC-KAR NC: 2025:KHC:33269 WP No. 24399 of 2025 KUMARASWAMY LAYOUT, BENGALURU - 560078. …PETITIONERS (BY SRI. ANANTHAPADMANABHA G N.,ADVOCATE) AND: THE AUTHORIZED OFFICER CANARA BANK, REGIONAL OFFICE WEST, CHITRAPUR MUTT COMPLEX, MALLESHWARAM 15TH CROSS, BENGALURU 560055. …RESPONDENT (BY SRI. VINAY BHAT.,ADVOCATE) THIS W.P. IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE IMPUGNED PUBLIC AUCTION SALE NOTICE BEARING REF CNRB/2454/NAYA/SN1/2025-26 DATED 11-07-2025 ISSUED BY THE RESPONDENT BANK AS PER ANNEXURE-F AS ILLEGAL; CONSEQUENTLY ISSUE WRIT IN THE NATURE OF CERTIORARI TO QUASH THE POSSESSION NOTICE DATED 11-04-2025 AS PER ANNEXURE-E. THIS PETITION, COMING ON FOR FRESH MATTERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 3 - HC-KAR NC: 2025:KHC:33269 WP No. 24399 of 2025 CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD ORAL ORDER The petitioners, the borrowers, have called in question the initiation of proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for short, 'SARFAESI Act'] with the issuance of the impugned sale notice dated 11.07.2025 [Annexure-F]. This Court must observe that on the previous hearing date [14.08.2025], the learned counsel for the Bank had placed on record that the Bank would consider deferring the sale proceedings scheduled to be held on 18.08.2025 if a substantial part of the amount is paid. It is now stated in unison that the petitioners indeed have regularized the loan and therefore there are no pending proceedings under the SARFAESI Act. - 4 - HC-KAR NC: 2025:KHC:33269 WP No. 24399 of 2025 Sri Vinay Bhat, the learned counsel for the respondent, submits that the petition could be disposed of but without prejudice to the respondent's right to initiate further proceedings under the SARFAESI Act if there is any further default. In the light of the afore, the petition stands disposed of on terms as stated above. Sd/- (B M SHYAM PRASAD) JUDGE AN/-