- 1 - HC-KAR NC: 2025:KHC:31760 WP No. 24476 of 2025 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. 24476 OF 2025 (GM-RES) BETWEEN: 1. SRI. C M MUPASIL ALIAS SADDAM ALIAS MUFASIL S/O. C.M. IBRAHIM SAB, AGED ABOUT 47 YEARS, 2. SMT. SEEMA BANU W/O. C.M. MUPASIL SADDAM AGED ABOUT 45 YEARS, BOTH ARE R/AT. MAQBUL MANZIL, 2ND CROSS, EKINSA COLONY, TARIKERE ROAD, BHADHRAVATHI, SHIMOGA DISTRICT-577301. …PETITIONERS (BY SRI. MOHAMED NASIRUDDIN.,ADVOCATE) Digitally signed by VANAMALA N Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:31760 WP No. 24476 of 2025 AND: THE UNION OF INDIA HAVING ITS OFFICE NEAR B.H.ROAD, BHADRAVATHI. SHIVMOGA DISTRICT-577301 REPRESENTED BY ITS AUTHORIZED OFFICER. …RESPONDENT THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASHING THE ANNX-F (IMPUGNED ) DATED 25.07.2025 ISSUED BY THE RESPONDENT BANK TO THE PETITIONERS; DIRECTING THE RESPONDENT BANK TO HANDOVER THE POSSESSION OF THE SCHEDULE PROPERTY AS PER THEIR PROMISE AT THE TIME OF THE RECEIPT OF RS.4,35,00,000/- AS ON 27.12.2019 AS PER ANNX-C. THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD - 3 - HC-KAR NC: 2025:KHC:31760 WP No. 24476 of 2025 ORAL ORDER The question for consideration in this petition is: whether this Court must interfere with the respondent's decision to bring secured assets for sale under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 [for short, 'the SARFAESI Act'] with Sri Mohamed Nasiruddin, the learned counsel for the petitioners, asserting that this Court must interfere for the following reasons: [a] the impugned Notice under Rule 8 of the Security Interest [Enforcement] Rules, 2002 [for short, 'the Rules'] provides for only notice of fifteen [15] days when the Rules stipulate thirty [30] days’ notice, [b] the property is worth more than Rs.25,00,00,000/- but is brought to sale only for Rs.6,62,25,095/- and the valuation report appended to the writ petition confirms that - 4 - HC-KAR NC: 2025:KHC:31760 WP No. 24476 of 2025 there is a drastic undervaluation to bring the property to sale, [c] the petitioners were offered with One Time Settlement and in exercise of such benefit, the petitioners have tendered about Rs.6,00,00,000/- and was only required to pay another Rs.1,00,00,000/- which is not paid only because of Covid-19 pandemic and the resultant restrictions and difficulties, [d] though this Court by order dated 13.02.2019 has directed the respondent to consider its representation in the writ petitions in W.P. Nos.34329-331/2016, the representation is not considered, and [e] the proceedings under the SARFAESI Act are notwithstanding the outcome under the Recovery of Debts and Bankruptcy Act, 1993. The records are perused in the light of these submissions with Sri Mohamed Nasiruddin also fairly - 5 - HC-KAR NC: 2025:KHC:31760 WP No. 24476 of 2025 submitting that with the amendment of Rule 9 of the Rules in the year 2016, he would rely upon the decision of another High Court and that the petitioners are not aware of the outcome of the E- auction scheduled on 14.08.2025. This Court must opine that the present proceedings are after the earlier truncated proceedings with one of the earlier proceedings resulting in the writ petition in W P No.32032/2024 which stands disposed of by this Court on 13.12.2024 because the sale could not be completed. The efficacy of each of the grounds urged by the petitioners must be examined in the proceedings under Section 17 of the SARFAESI Act if the petitioners avail such remedy. Therefore, subject to all just exceptions, the petition stands disposed of. Sd/- (B M SHYAM PRASAD) JUDGE AN/-