- 1 - HC-KAR NC: 2025:KHC:31761 WP No. 27170 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 18TH DAY OF AUGUST, 2025 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 27170 OF 2024 (GM-RES) BETWEEN: MR KOSHY VARGHESE S/O ABRAHAM VARGHESE AGED ABOUT 62 YEARS RESIDING AT VILLA NO. 4A, NUSA DUA, SY. NO. S 33/P, 34/P, 36/P, 37/P, R NARAYANAPURA ROAD, WHITEFIELD VILLAGE, KR PURAM HOBLI, BENGALURU 560066. …PETITIONER (BY SRI. VIVEKANANDA N., ADVOCATE FOR SRI. DILIP KUMAR I S.,ADVOCATE) AND: THE HDFC BANK LTD REPRESENTED BY ITS AUTHORIZED OFFICER, RETAIL PORTFOLIO MANAGEMENT. 24/3, HDFC HOUSE NO. 51, KASTURBA ROAD, BENGALURU 560001, Digitally signed by VANAMALA N Location: High Court of Karnataka - 2 - HC-KAR NC: 2025:KHC:31761 WP No. 27170 of 2024 ALSO AT HDFC BANK HOUSE, SENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI 400013. …RESPONDENT (BY SRI.RAGHURAM CADAMBI., ADVOCATE) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE NOTICE DATED 25.09.2024 UNDER THE NAME NOTICE TO TAKE POSSESSION OF THE SECURED ASSETS PRODUCED AS ANNEXURE-A, IN RESPECT OF THE SCHEDULE PROPERTY. THIS PETITION, COMING ON FOR PRELIMINARY HEARING IN 'B' GROUP, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD - 3 - HC-KAR NC: 2025:KHC:31761 WP No. 27170 of 2024 ORAL ORDER The petitioner-borrower is aggrieved by the possession notice dated 25.09.2024 [Annexure-A] issued by the respondent under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for short, 'the SARFAESI Act']. Sri Vivekananda N, the learned counsel for the petitioner, seeks disposal of the writ petition on the ground that the petitioner has negotiated a One Time Settlement and there could be an opportunity for the petitioner to pay the entire amount by the end of September 2025. Sri Raghuram Cadambi, the learned counsel for the respondent, on the other hand, submits that his instructions are that no One Time Settlement has been arrived and that this petition could be disposed of with liberty to the petitioner to pursue the One Time Settlement but without prejudice to the - 4 - HC-KAR NC: 2025:KHC:31761 WP No. 27170 of 2024 respondent to take possession as contemplated under Section 14 of the SARFAESI Act after due process. On a careful consideration of the afore submissions, this Court is of the view that the petitioner, if there is any action pursuant to the notice because the efforts for One time Settlement have failed, must avail the remedy under Section 17 of the SARFAESI Act. With liberty in this regard, the petition stands disposed of. SD/- (B M SHYAM PRASAD) JUDGE AN/-