- 1 - HC-KAR NC: 2025:KHC:31618 WP No. 22981 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 14TH DAY OF AUGUST, 2025 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 22981 OF 2025 (GM-RES) BETWEEN: 1. MR RAMESH BABU G AGED ABOUT 34 YEARS, S/O. SRI. GOPALA, AT NO 250, GROND FLOOR, MADHURANAGARA, 1 STAGE. 6 CROSS, NEAR KRISHNA BAKERY. JANATHA COLONY, VARTHURU, BENGALURU-560 087. 2. MRS. SUGUNA, AGED ABOUT 55 YEARS, W/O. GOPALA, AT NO.250, GROUND FLOOR, MADHURANAGARA, 1ST STAGE, 6TH CROSS, NEAR KRISHNA BAKERY, JANATHA COLONY, VARTHURU, BENGALURU-560 087 3. MR. S GOPAL, AGED ABOUT 65 YEARS, S/O. SONNAPPA, AT NO.250, GROUND FLOOR, MADHURANAGARA, 1ST STAGE, 6TH CROSS, NEAR KRISHNA BAKERY, JANATHA COLONY, Digitally signed by VANAMALA N Location: High Court of Karnataka - 2 - HC-KAR NC: 2025:KHC:31618 WP No. 22981 of 2025 VARTHURU, BENGALURU-560 087 …PETITIONERS (BY SRI. ABHISHEK N.N..,ADVOCATE) AND: IKF HOME FINANCE LIMITED REGISTERED OFFICE [REP BY BRANCH MANAGER] (FORMERLY KNOWN AS IKF HOUSING FINANCE PVT LIMITED) NO.40-1-144, CORPORATE CENTRE, MG ROAD, VIJAYAWADA ANDHRA PRADESH-520 010 ]IT REGISTRATION UNDER COMPANY ACT, 1958[1] CORPORATE OFFICE AT 1ST FLOOR, NO.6-3-902/A, PLOT NO.1, NEAR YASHODA HOSPITAL, CENTRAL PLAZA, RAJ BHAVAN ROAD, SOMAJIGUDA, HYDERABAD-560082, REPRESENTED BY ITS AUTHORIZED OFFICER, MR. BALLA KARUNAKAR REDDY …RESPONDENT (BY SRI. VIJAY S, ADVOCATE) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO (A) TO SET ASIDE THE IMPUGNED ORDER PASSED BY THE CHIEF METROPOLITAN MAGISTRATE IN CRL. MISC. NO.410/2022, DATED.02/07/2022 AS NOT BINDING ON THE PETITIONERS AND (B) TO DIRECT THE RESPONDENT TO DELIVER THE POSSESSION OF THE - 3 - HC-KAR NC: 2025:KHC:31618 WP No. 22981 of 2025 SCHEDULE PROPERTY TO THE PETITIONERS IN THE INTEREST OF JUSTICE AND EQUITY. THIS PETITION, COMING ON FOR FINAL HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD ORAL ORDER The petitioners are aggrieved by the outcome in the proceedings under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, but the canvas for this Court's consideration is reduced significantly with the learned counsel for the respondent stating that the petitioners must pay a sum of Rs.3,92,000/- for regularization of the loan and undertake to pay further amount without default. Responding to this statement, Sri Abhishek N N, the learned counsel for the petitioners, submits that the petitioners are willing to offer the sum of Rs.3,92,000/- and also undertake to pay further amount but there must be a direction to restore - 4 - HC-KAR NC: 2025:KHC:31618 WP No. 22981 of 2025 possession of the subject residential property to the petitioners. If the secured creditor is willing to receive the amount of Rs.3,92,000/- for regularization of the loan account and if the borrower is willing to pay such amount without delay, the petition must be disposed of permitting the petitioners to offer the amount of Rs.3,92,000/- calling upon the respondent to receive the same, re-deliver possession of the subject residential property to the petitioners simultaneously with receipt of the aforesaid amount and permit the petitioner to continue pay further amount without default. The petition stands disposed of accordingly. Sd/- (B M SHYAM PRASAD) JUDGE AN/- List No.: 2 Sl No.: 34