- 1 - HC-KAR NC: 2025:KHC:52679 WP No. 36976 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 10TH DAY OF DECEMBER, 2025 BEFORE THE HON'BLE SMT. JUSTICE LALITHA KANNEGANTI WRIT PETITION NO. 36976 OF 2025 (GM-DRT) BETWEEN: MR. SHAMANTH M.N., S/O MR.NARAYAN L., AGED ABOUT 34 YEARS, R/AT NO.40, 8TH MAIN, 12TH CROSS, K.H.ROAD, KUVEMPUNAGAR MYSORE-570 023 …PETITIONER (BY SRI. SATHEESH T.V., ADVOCATE) AND: 1. BANK OF INDIA THE ASSET RECOVERY BRANCH, BANGALORE ZONE NO.11, 1ST FLOOR, BANK OF INDIA BUILDING, KEMPEGOWDA ROAD, BANGALORE-560 009 REPRESENTED BY CHIEF MANAGER MR.AMITH KUMAR Digitally signed by MEGHA MOHAN Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:52679 WP No. 36976 of 2025 2. THE BRANCH MANAGER BANK OF INDIA BOGADI BRANCH BOGADI 2ND STAGE, MYSORE-570 026 3. MR. HARISH GOWDA K.R S/O MR.RAJU AGED ABOUT YEARS NO.9, 20TH CROSS, ARAVINDA NAGAR KUVEMPU NAGAR POST, MYSORE-570 023 …RESPONDENTS (BY SRI.M.MOHAMED IBRAHIM, ADVOCATE) THIS PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE IMPUGNED SALE NOTICE DATED 30.10.2025 VIDE NO.BNZ/ARB/SALE NOTICE/2025 26/AK/74 ISSUED BY THE 1ST RESPONDENT UNDER PROVISIONS OF SARFAESI ACT R/W PROVISO TO RULE 8(6) OF THE SECURITY INTEREST (ENFORCEMENT) RULES, 2002 AS PER ANNEXURE-D. THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE SMT. JUSTICE LALITHA KANNEGANTI - 3 - HC-KAR NC: 2025:KHC:52679 WP No. 36976 of 2025 ORAL ORDER The present writ petition is filed seeking the following prayer: "In view of various grounds urged by the petition under the facts and circumstances narrated herein above this Hon'ble court may kindly be pleased to grant following reliefs in favour of the Petitioners: a) Issue a Writ certiorari or similar writ or order or direction to quash the impugned sale notice dated 30.10.2025 vide No.BNZ/ARB/SALE NOTICE/2025 26/AK/74 issued by the 1st respondent under provisions of SARFAESI ACT R/W proviso to rule 8(6) of the security interest (enforcement) rules, 2002 as per ANNEXURE- D. b) Such other relief/s as this Hon'ble COURT may consider fit and proper in the facts and circumstances narrated supra." 2. When the matter came up on 08.12.2025, it was submitted by the learned counsel for the petitioner that the petitioner is ready to clear the outstanding amount. According to the petitioner, the outstanding amount is Rs.30,00,000/- and according to the learned counsel appearing for the respondent No.1/Bank, the outstanding amount is more than Rs.56,00,000/-. 3. This Court had directed learned counsel appearing for respondent No.1/Bank to inform the counsel for the petitioner about the overdue amount to regularize the account. It is - 4 - HC-KAR NC: 2025:KHC:52679 WP No. 36976 of 2025 undertaken by the petitioner that he will come up with an affidavit. 4. Today, when the matter came up, he has placed an affidavit before this Court. As per the affidavit, the overdue loan amount is Rs.41,00,000/-. It is stated that respondent No.3 who is the principal borrower is ready to pay the entire outstanding amount of Rs.41,00,000/- within eight weeks from today in four equal instalments i.e., in every two weeks, respondent No.3 will pay an amount of Rs.10,00,000/-. It is stated that if the respondent fails to honor the terms and conditions, as the petitioner is the guarantor/mortgager, he will be taking the responsibility of clearing the outstanding amount without fail. 5. Learned counsel appearing for respondent No.1/Bank submits that the auction was conducted on 09.12.2025, in view of the order passed by this Court, they have not finalized the same. He submits that as submitted by the petitioner, if he fails to pay an amount of Rs.10,00,000/- each every two weeks, they will finalize the auction. Hence, this Court is passing the following: - 5 - HC-KAR NC: 2025:KHC:52679 WP No. 36976 of 2025 ORDER i. The petitioner shall pay an amount of Rs.10,00,000/- each by four instalments. He shall pay the first instalment by 24.12.2025, second instalment by 08.01.2026, third instalment by 22.01.2026 and fourth instalment by 05.02.2026. On such payment, the respondent No.1/Bank shall regularize the loan account. ii. If the petitioner or respondent No.3 fails to pay any instalment, the respondent No.1/Bank is at liberty to finalize the auction. iii. Accordingly, the writ petition is disposed of. iv. All I.As. in this petition shall stand closed. SD/- (LALITHA KANNEGANTI) JUDGE MEG List No.: 1 Sl No.: 56