- 1 - HC-KAR NC: 2025:KHC:30073 WP No. 22796 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 4TH DAY OF AUGUST, 2025 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 22796 OF 2025 (GM-RES) BETWEEN: 1. SRI RAVISHANKAR P S/O GANGADHARA RAO AGED ABOUT 60 YEARS, 2. SMT SUJATHA P W/O SRI RAVISHANAKAR P AGED ABOUT 52 YEARS, R/AT NO.5208 8TH MAIN I BLOCK 3RD STAGE DATTAGALLI MYSORE 570023. …PETITIONERS (BY SRI. BHEEMAIAH.K.S.,ADVOCATE) AND: THE UNION BANK OF INDIA KUVEMPUNAGAR BRANCH NO.34 KESHAVA COMPLEX NRUPATUNGA ROAD KUVEMPUNAGAR, MYSORE 570023. …RESPONDENT (BY SRI.SATYANARAYANA., ADVOCATE) Digitally signed by VANAMALA N Location: High Court of Karnataka - 2 - HC-KAR NC: 2025:KHC:30073 WP No. 22796 of 2025 THIS W.P. IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO A) ISSUE A WRIT OF CERTIORARI OR ANY OTHER WRIT TO QUASH THE SALE NOTICE DATED 23.06.2025, BEARING NO. OR/E-AUCTION/050/2025-26 AND STOP ALL THE FURTHER PROCEEDINGS, WHICH IS AT ANNEXURE-P, UNDER THE SARFAESI ACT IN FURTHERANCE OF THE NOTICE WITH COSTS; B) ISSUE A WRIT OF MANDAMUS OR DIRECTION TO THE RESPONDENT BANK TO CONSIDER THE REQUEST OF THE PETITIONERS FOR OFFER ONE TIME SETTLEMENT, OR IN THE ALTERNATE TO RECEIVE THE MATURED INSTALMENTS AMOUNT FROM THE PETITIONERS HEREIN AND THEREBY RESTRUCTURE THE PETITIONERS LOAN ACCOUNT BY EXECUTING AFRESH AGREEMENT OR ANY OTHER DOCUMENT/S AS THINKS APPROPRIATE BY THE RESPONDENT BANK AND ETC. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 3 - HC-KAR NC: 2025:KHC:30073 WP No. 22796 of 2025 CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD ORAL ORDER The petitioners who are borrowers are aggrieved by the proceedings initiated under Section 13 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for short, 'the SARFAESI Act'] read with Rule 8 of the Security Interest [Enforcement] Rules, 2002. The respondent has issued the impugned Sale Notice dated 23.06.2025 [Annexure-P]. 2. The respondent has notified for sale different secured assets including [a] a residential property in No. 5208, Dattagalli, 3rd Stage, Chamaraja Mohalla, Mysuru, [b] Flat No. 108, Ground floor, Srishti Apartment, Jayalakshmi Vilas Road, Chamarajapuram, Mysuru, and [c] Land in Survey No. 22/P1 measuring 1,38,303 square feet [3 acres to 7 guntas] of Kuppeda Village, Belagola, Srirangapatna Taluk, Mandya District. - 4 - HC-KAR NC: 2025:KHC:30073 WP No. 22796 of 2025 3. Sri K S Bheemaiah, the learned counsel for the petitioners, submits that he cannot dispute that the petitioners have an alternative remedy under Section 17 of the SARFAESI Act, but asserts that this Court must extend some interim protection to the petitioners, because the residential property bearing No.5208 is transferred and there is threat of the petitioners being dispossessed. The learned counsel also submits that the tenant who is in occupation of the Flat No.108 is willing to purchase the property for its true value and deposit the entire sale price towards discharge of the loan. The learned counsel further emphasizes that the petitioners will be able to liquidate the entire outstanding, if they are able to sell the land in Survey No. 22/P1 at Kuppeda Village. 4. Sri Satyanarayana, the learned counsel who is on caveat for the respondent, submits that the residential property in No.5208 is sold; that an offer is received for the residential property in No. 5208 - 5 - HC-KAR NC: 2025:KHC:30073 WP No. 22796 of 2025 and the purchaser has also deposited 25% of the bid offered; that in so far as the other properties as no offer is received, the respondent will have to re-notify the sale. The learned counsel submits that any intervention by this Court would be at the instance of the petitioners who have been consistent defaulters even violating the terms of the interim order granted in the earlier writ petition. 5. These circumstances are considered, and this Court is of the view that even if the petitioners have any grievance with the proceedings under the SARFAESI Act, including the subject proceedings, the petitioners must necessarily avail remedy under Section 17 of the SARFAESI Act. Insofar as the petitioners' case that a tenant in possession of the Flat No.108 is willing to offer the true value and credit the entire sale price towards discharge of the outstanding loan, this Court must refer to Section 13[3] of the SARFAESI Act observing that the - 6 - HC-KAR NC: 2025:KHC:30073 WP No. 22796 of 2025 petitioners cannot deal with a secured asset unless a request is made with the respondent and the respondent consents in writing to such transaction. The petitioners must be at liberty in this regard, as they must be at liberty to invoke the remedy under Section 17 of the SARFAESI Act. While so observing, the petition stands disposed of subject to all just exceptions in law. Sd/- (B M SHYAM PRASAD) JUDGE AN/-