- 1 - HC-KAR NC: 2025:KHC:29499 WP No. 706 of 2025 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. 706 OF 2025 (GM-RES) BETWEEN: 1. SRI C KARNA DEVA REDDY S/O SRI CHANDRA MOHAN REDDY AGED ABOUT 33 YEARS RESIDING AT REDDY ESTATE ANJANAPURA, BENGAURU 560 062. 2. SMT. C. DEVASENA REDDY W/O SRI CHANDRA MOHAN REDDY AGED ABOUT 64 YEARS R/A AT H.NO. 892 GROUND FLORO 10TH CROSS, 23RD MAIN J P NAGAR BENGALURU 560 062. 3. SRI CHANDRA MOHAN REDDY AGED ABOUT 70 YEARS R/A H NO. 892, G FLOOR 10TH CROSS, 23RD MAIN J P NAGAR BENGAURU 560 062. …PETITIONERS (BY SMT. SIRI RAJASHEKAR.,ADVOCATE) Digitally signed by VANAMALA N Location: High Court of Karnataka - 2 - HC-KAR NC: 2025:KHC:29499 WP No. 706 of 2025 AND: BRANCH MANAGER HDFC BANK LTD JAGALUR MAHALINGAPPA TOWER NERA KSRTC BUS STAND B D ROAD, CHITRADURGA 577 501 ALSO AT SENIOR BRANCH MANAGER HDFC BANK LTD NO.1.1, OLD NO. -118 WHITEFIELD BENGALURU 560 066. …RESPONDENT (BY SRI. NARAYANA SWAMY D.,ADVOCATE) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO-QUASH THE IMPUGNED NOTICE DATED 02.01.2025 ISSUED BY THE RESPONDENT BANK, VIDE ANNX-K AND ALSO PAPER PUBLICATION DATED 09.01.2025 VIDE ANNX-L. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD - 3 - HC-KAR NC: 2025:KHC:29499 WP No. 706 of 2025 ORAL ORDER The petitioners have called in question initiation of proceedings under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for short, 'the SARFAESI Act']. This Court, on 15.01.2025, has granted interim order staying all further proceedings but on the condition that the petitioners must deposit 25% of Rs.1,22,73,988/-. When this petition was listed on 28.07.2025, Sri D Narayana Swamy, the learned counsel for the respondent, brought to this Court's notice that the petitioners have not made the deposit while emphasizing that the petitioners have an alternative remedy. This Court has adjourned the petition for a response in the light of these assertions. Smt Siri Rajasekhar, the learned counsel for the petitioners, does not dispute that the petitioners have not complied with the terms of the interim order - 4 - HC-KAR NC: 2025:KHC:29499 WP No. 706 of 2025 dated 15.01.2025. This Court must observe that if the petitioners have not availed the advantage of the interim order by complying with the terms, that in itself [as observed by this Court on the previous hearing date] must be a reason for non-interference and the petition must be disposed of, however without prejudice to the petitioners to avail alternative liberty. Therefore, the petition stands disposed of with liberty as aforementioned. Sd/- (B M SHYAM PRASAD) JUDGE AN/-