- 1 - HC-KAR NC: 2025:KHC:54432 WP No. 15731 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 18TH DAY OF DECEMBER, 2025 BEFORE THE HON'BLE MR. JUSTICE SURAJ GOVINDARAJ WRIT PETITION NO. 15731 OF 2024 (GM-RES) BETWEEN: MRS. SANGEETHA REDDY, DAUGHTER OF MR. VEERANNA REDDY, AGED ABOUT 39 YEARS, RESIDING AT 109/21, 10TH MAIN, 7TH CROSS, RMV EXTENSION, BENGALURU 560 080. …PETITIONER (BY SRI. VISHWAS. N.,ADVOCATE) AND: 1. ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956 AND REGISTERED AS A SECURITIZATION AND RECONSTRUCTION COMPANY PURSUANT TO SECTION 3 OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002, AS AMENDED ACTING IN THE CAPACITY OF THE TRUSTEE OF ARCIL-AST-IX TRUST. HAVING ITS REGISTERED OFFICE AT THE RUBY, 10TH FLOOR, 29, SENAPATI BAPAT MARG, DADAR (WEST), MUMBAI, MAHARASHTRA 400 028. Digitally signed by SHWETHA RAGHAVENDRA Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2025:KHC:54432 WP No. 15731 of 2024 REPRESENTED BY ITS AUTHORIZED REPRESENTATIVE/ MANAGING DIRECTOR 2. MANYATA DEVELOPERS PRIVATE LIMITED, A COMPANY INCORPORATED UNDER THE COMPANIES ACT, 1956. HAVING ITS REGISTERED OFFICE AT NO. 9/1, II FLOOR, CLASSIC COURT, RICHMOND ROAD, BENGALURU 560 025. REPRESENTED BY ITS AUTHORIZED REPRESENTATIVE/ MANAGING DIRECTOR 3. THE REGISTRAR, NATIONAL COMPANY LAW TRIBUNAL, BENGALURU BENCH, 12TH FLOOR, RAHEJA TOWERS, CORPORATE BHAWAN, 12TH FLOOR, RAHEJA TOWERS, M. G. ROAD, BANGALORE 560 001. …RESPONDENTS (BY SRI. P.CHINNAPPA FOR C/R1 IN CP 10432/2024 & ALSO FOR R1; SADHANA S DESAI, CGC FOR R3; R2- MANYATA DEVELOPERS PVT.LTD, REP BY ITS MANAGING DIRECTOR- SD) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT OF PROHIBITION OR ANY OTHER APPROPRIATE WRIT, ORDER OR DIRECTION UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA AND BE PLEASED TO DISMISS THE PETITION PENDING BEFORE THE NCLT IN C.P.(IB) NO. 203/BB/2022 TITLED ASSET RECONSTRUCTION COMPANY (INDIA) LTD. V. MRS. SANGEETHA REDDY (ANNEXURE B) AS THE SAME IS NOT MAINTAINABLE AND - 3 - HC-KAR NC: 2025:KHC:54432 WP No. 15731 of 2024 THE NCLT LACKS JURISDICTION TO ADJUDICATE UPON THE SAID MATTER, AND ETC. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE SURAJ GOVINDARAJ ORAL ORDER 1. The petitioner is before this Court seeking for the following relief: (a) Issue a Writ of Prohibition or any other appropriate Writ, order or direction under Article 226 of the Constitution of India and be pleased to dismiss the Petition pending before the NCLT in C.P.(IB) No. 203/BB/2022 titled "Asset Reconstruction Company (India) Ltd. v. Mrs. Sangeetha Reddy" (Annexure B) as the same is not maintainable and the NCLT lacks jurisdiction to adjudicate upon the said matter, and, (b) Issue a Writ in the nature of Certiorari or any other appropriate Writ, Order or direction under Article 226 of the Constitution of India and be pleased to quash and set aside the Impugned Order dated 27th May 2024 (Annexure A) as passed by the NCLT in C.P.(IB) No. 203/BB/2022 titled "Asset Reconstruction Company (India) Ltd. v. Mrs. Sangeetha Reddy"; and/or (c) Pass any other orders that this Hon'ble Tribunal may deem fit and appropriate in the facts and circumstances of the case. 2. A memo dated 15.12.2025, has been filed signed by the petitioner and counsel for the petitioner, which reads as under: - 4 - HC-KAR NC: 2025:KHC:54432 WP No. 15731 of 2024 " The above-named Petitioner most respectfully submits as follows; 1. The Petitioner has filed the captioned petition challenging the proceedings in C.P. (IB) No. 203/BB/2022 ("Impugned Proceedings"), pending before the Hon'ble National Company Law Tribunal, Bengaluru. 2. During the pendency of the proceedings, the dispute between Respondent No.2 (Debtor) and Respondent No.1 (Creditor) has been amicably settled. The parties have agreed to restructure the existing loan facility on revised terms, which is duly confirmed by Respondent No.1 vide its letter dated 08.10.2025 addressed to Respondent No.2. A copy of the said letter dated 08.10.2025 is produced herewith as Document No.1. 3. It is further submitted that the Petitioner, Respondents No.1 and 2 have agreed to withdraw all proceedings pending before various forums. Accordingly, the Respondent No. 1 has submitted before the Hon'ble NCLT to withdraw the Impugned Proceedings, and the Hon'ble NCLT, by its Order dated 28.11.2025, has recorded the same. A copy of the order dated 28.11.2025 is produced herewith as Document No.2." 3. Accepting the said memo and submission of the counsel for the petitioner, the petition is dismissed as withdrawn. SD/- (SURAJ GOVINDARAJ) JUDGE GJM List No.: 1 Sl No.: 101