- 1 - HC-KAR NC: 2025:KHC:43569 WP No. 30956 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 30TH DAY OF OCTOBER, 2025 BEFORE THE HON'BLE SMT. JUSTICE LALITHA KANNEGANTI WRIT PETITION NO. 30956 OF 2025 (GM-DRT) BETWEEN: 1. SRI MUNIYAPPA G., S/O SRI. GANAPPA, AGED ABOUT 50 YEARS, 2. SMT. VIJAYALAKSHMI V., W/O SRI. MUNIYAPPA G., BOTH RESIDING AT NO.3, RAMAIAH BLOCK, NEAR EVEREST SCHOOL, CHAMUNDI NAGAR, R.T.NAGAR, BENGALURU – 560 032. ALSO AT NO.39/9, KOTHI HOSAHALLI VILLAGE, MARUTHI NAGAR, KODIGEHALLI, YELAHANKA HOBLI, YELAHANKA, BENGALURU – 560 064. …PETITIONERS (BY SRI. PRAVEEN DANAGERI, ADVOCATE) AND: IIFL HOMES FINANCE LIMITED INCORPORATED UNDER COMPANIES ACT 2013 AND REGULATED BY RBI, Digitally signed by MEGHA MOHAN Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:43569 WP No. 30956 of 2025 HAVING ITS BRANCH OFFICE AT NO.9, GROUND FLOOR, SOMA MERIT, VENKATASWAMY NAIDU STREET, TASKAR TOWN, SHIVAJINAGAR, BENGALURU – 560 051, REPRESENTED BY BRANCH MANAGER. …RESPONDENT (BY SRI. SATISH V., ADVOCATE) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF CERTIORARI BY SETTING ASIDE THE ORDER PASSED BY THE HON’BLE VII ADDL. CHIEF JUDICIAL MAGISTRATE, BENGALURU IN CRL. MISC. NO. 6006 OF 2025, DATED 03.10.2025 (ANNEXURE-A) IN RESPECT OF THE SCHEDULE PROPERTY AND PASS ANY OTHER ORDER/S AS THIS HON'BLE COURT DEEMS FIT TO GRANT IN THE CIRCUMSTANCES OF THE CASE, IN THE INTEREST OF JUSTICE AND EQUITY. THIS PETITION, COMING ON FOR PRELIMINARY HEARING IN ‘B’ GROUP, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 3 - HC-KAR NC: 2025:KHC:43569 WP No. 30956 of 2025 CORAM: HON'BLE SMT. JUSTICE LALITHA KANNEGANTI ORAL ORDER The Writ Petition is filed seeking the following prayers: "Issue a writ of certiorari by setting aside the Order passed by the Hon'ble VII Addl Chief Judicial Magistrate, Bengaluru in Crl.Misc.No.6006 of 2025, dated 03.10.2025 (ANNEXURE-A) in respect of the schedule property. b. Pass any other order/s as this Hon'ble Court deems fit to grant in the circumstances of the case, in the interest of justice and equity." 2. This Court has passed an order on 25.10.2025 recording the submission of the petitioner that he will come up with an affidavit on Monday i.e., on 27.10.2025 with an undertaking that he will pay the amount within three months and is also ready to pay an amount of Rs.4,00,000/- by 27.10.2025. This Court has further observed that by 28.10.2025, an amount of Rs.4,00,000/- shall be paid and an affidavit shall be filed before this court. On such deposit, the bank shall not take any coercive steps. If the petitioner fails to pay the amount to the Bank or he fails to file a memo before - 4 - HC-KAR NC: 2025:KHC:43569 WP No. 30956 of 2025 this Court by 28.10.2025, the Bank is at liberty to take steps. It is the submission of learned counsel for the petitioners that Rs.27,000/- is paid today. It is submitted that he will pay the amount within three months. 3. The present writ petition is filed questioning the proceedings under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act for short). The petitioners have a remedy under Section 17 of the SARFAESI Act to approach the Debt Recovery Tribunal. The Hon’ble Apex Court time and again has reiterated about the scope of interference by the High Court in SARFAESI proceedings. Only considering the fact that the petitioners are ready to pay the amount, this Court has granted an interim order. The petitioners have failed to comply with the interim order. Accordingly the Writ Petition is disposed of giving liberty to the petitioners to avail the alternative remedy. 4. However, one week time from today is granted to the petitioners to remove the articles from the schedule - 5 - HC-KAR NC: 2025:KHC:43569 WP No. 30956 of 2025 property i.e., the petitioners shall collect all the movables by 10.11.2025. 5. All I.As. in this petition shall stand closed. Sd/- (LALITHA KANNEGANTI) JUDGE CBC List No.: 2 Sl No.: 23