- 1 - HC-KAR NC: 2026:KHC:8923 WP No. 8839 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 12TH DAY OF FEBRUARY, 2026 BEFORE THE HON'BLE MR. JUSTICE ASHOK S.KINAGI WRIT PETITION NO. 8839 OF 2025 (GM-DRT) BETWEEN: 1. SRI SRIRAM ANANTH S/O SRIRAM ANJAIAH SETTY AGED ABOUT 49 YEARS R/A. 205, SAPTHAGIRI RESIDENCY-4, 7TH CROSS, KATHRIGUPPE MAIN ROAD, VIVEKANAND NAGAR, BENGALURU 560 085 2. SMT P C SHILPA W/O SRIRAM ANANTH AGED ABOUT 42 YEARS R/A. 205, SAPTHAGIRI RESIDENCY-4, 7TH CROSS, KATHRIGUPPE MAIN ROAD, Digitally signed by KIRAN KUMAR R Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:8923 WP No. 8839 of 2025 VIVEKANAND NAGAR, BENGALURU 560 085 …PETITIONERS (BY SRI. SWAROOP S., ADVOCATE) AND: M/S PEGASUS ASSETS RECONSTRUCTION PVT. LTD. MG ROAD, BENGALURU 560 001 REPRESENTED BY ITS AUTHORISED OFFICER / MANAGING DIRECTOR A COMPANY RIGISTERED UNDER COMPANYS ACT 1956 …RESPONDENT (BY SRI. NARAYANA SHENOY., ADVOCATE) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO- DIRECT THE RESPONDENT TO REFUND A SUM OF RS. 63,24,640/- IN FAVOUR OF THE PETITIONERS WHICH WAS PAID TOWARDS 25 PERCENT OF CONSIDERATION UNDER PUBLIC AUCTION DTD 24.12.2024 VIDE ANNEXURE-B. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: ***** - 3 - HC-KAR NC: 2026:KHC:8923 WP No. 8839 of 2025 CORAM: HON'BLE MR. JUSTICE ASHOK S.KINAGI ORAL ORDER The petitioners and the respondent have filed a joint memo dated 12.02.2026, which reads as follows: “The Petitioners and the Respondent collectively submit as under: 1. Pursuant to the auction sale notice dated 19.11.2024, the property bearing Old House, List No. 2, Old Khata No. 53/3 And 53/4 situated at Chikkalasandra Village, Uttarahalli Hobli, Bengaluru South Taluk measuring East to West 40 Ft. and North to South 70 Ft. along with building standing there on Measuring 1312. 75 Sq. Ft. was auctioned on 24.12.2024. Under the said auction, the Petitioners emerged as the successful bidders for a sum of Rs. 2,52,98,560/-. As on 26.12.2024, the Petitioners have paid 63,24,640/- in favour of the Respondent herein being 25% of the auction consideration. The Respondent has issued a confirmation letter on 26.12.2024 in favour of the Petitioner. 2. The parties have collectively agreed that, the subject property shall be sold in favour of the Petitioners, subject to the Petitioners depositing a - 4 - HC-KAR NC: 2026:KHC:8923 WP No. 8839 of 2025 total Sum of Rs. 2,03,25,487/- (Rs. 1,89,73,920/- towards balance bid amount along with Rs. 13,51,567/-towards interest the rate of 8% per at annum)towards the balance auction consideration and the same is being paid vide the following Demand Drafts a. DD No. 022721 for Rs. 1,89,73,920/- drawn on SBI, SBM Colony Branch. b. DD No. 022720 for Rs. 13,51,567/ drawn on SBI, SBM Colony Branch. 3. Having received the said sum of Rs. Rs. 2,03,25,487/- as above, the Respondents have agreed toexecute a sale certificate in favour of the Petitioners in respect of the subject property forthwith. 4. In consideration of the joint submissions made in the present memo, the above petition may be disposed of in the interest of Justice.” 2. The Authorised Officer of the respondent is present before the Court and he is identified by learned counsel for the respondent. 3. The joint memo dated 12.02.2026 is taken on record. - 5 - HC-KAR NC: 2026:KHC:8923 WP No. 8839 of 2025 4. In view of the settlement between the parties, this writ petition is disposed of in terms of the joint memo. 5. In view of disposal of the petition, pending application(s), if any, shall stand disposed of. Sd/- (ASHOK S.KINAGI) JUDGE PA CT:KHV List No.: 2 Sl No.: 5