- 1 - HC-KAR NC: 2025:KHC:32302 WP No. 11338 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 20TH DAY OF AUGUST, 2025 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 11338 OF 2025 (GM-RES) BETWEEN: 1. MR D S SRINIVAS SHETTY AND CO REPRESENTED BY ITS PARTNERS SMT PARIMALA D.J., W/O JAGADISH BABU D S, AGED 48 YEARS, 2. SRI JAGADISH BABU D.S, S/O D.S.SRINIVAS SHETTY, AGED 52 YEARS, R/AT BOTH ARE RESIDENT OF VENKATESHWARA KRUPA JAIL ROAD, SHIVOMAGGA-577201 …PETITIONERS (BY SRI. KUSHALAPPA B M.,ADVOCATE) AND: THE KARNATAKA BANK LIMITED ASSET RECOVERY MANAGAMENT BRANCH, 2ND FLOOR, KARNATAKA BANK BUILDING, CTS 122/108, P.B.NO.499, 2ND FLOOR, NEW COTTON MARKET, Digitally signed by VANAMALA N Location: High Court of Karnataka - 2 - HC-KAR NC: 2025:KHC:32302 WP No. 11338 of 2025 HUBBALLI-580029 AND HAVING ITS REGISTERED OFFICE AT KARNATAKA BANK LTD., HEAD OFFICE P.B.NO.599, MAHAVEERA CIRCLE, KANKANDAY, MANGALURU-575002 R/P BY ITS AUTHORIZED OFFICER. …RESPONDENT THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO i) QUASH THE ORDER DATED 24/03/2025 PASSED BY THE PRL. SENIOR CIVIL JUDGE AND CJM, SHIVAMOGGA, IN CRL.MIS NO. 69/2025, PRODUCED AT ANNX-B; ii) DIRECT THE RESPONDENT TO RESCHEDULE THE ENTIRE LOAN AMOUNT TO ENABLE THE PETITIONER TO REPAY THE SAME OR IN THE ALTERNATIVE DIRECT THE BANK TO ACCEPT THE OTS BY WAVIEING THE PENAL INTEREST IMPOSED, AS MENTIONED IN THE ORDER DATED 24/03/2025, PASSED BY THE PRL. SENIOR CIVIL JUDGE AND CJM, SHIVAMOGGA, IN CRL. MIS NO. 69/2025, PRODUCED AT ANNX-B. 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:32302 WP No. 11338 of 2025 ORAL ORDER The petitioners are aggrieved by the Order dated 24.03.2025 in Criminal Miscellaneous No.69/2025 on the file of the Principal Senior Civil Judge and CJM, Shivamogga. The petitioners do state in the memorandum of petition that they have inducted tenants who have already invoked the jurisdiction of the Debt Recovery Tribunal in SA No.213/2024. Sri B M Kushalappa, the learned counsel for the petitioners, proposes to canvass that the respondent- Bank could not have initiated proceedings only because of the dispute over penal interest, amongst others, but this Court is of the view that the petitioners must necessarily work out remedy under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and there is no occasion to make an exception of repeated caution on this Court interfering under Article 226 of the Constitution of India. Hence, - 4 - HC-KAR NC: 2025:KHC:32302 WP No. 11338 of 2025 subject to all just exceptions, the petition stand disposed of. SD/- (B M SHYAM PRASAD) JUDGE AN/-