- 1 - HC-KAR NC: 2026:KHC:13374 WP No. 11054 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 4TH DAY OF MARCH, 2026 BEFORE THE HON'BLE SMT. JUSTICE LALITHA KANNEGANTI WRIT PETITION NO. 11054 OF 2024 (GM-DRT) BETWEEN: 1. M/S METAL CLOSURES PRIVATE LIMITED THE COMPANY INCORPORATED AND REGISTERED HAVING REGISTERED OFFICE SITUATED AT NO.39/4B, 12TH K.M., KANAKAPURA ROAD, BENGALURU - 560 062 REPRESENTED BY ITS MANAGING DIRECTOR 2. MR. B PRASHANTH HEGDE S/O LATE RATHNAKAR HEGDE, AGED ABOUT 74 YEARS, RESIDING AT NO.261 DEFENCE COLONY INDIRANAGAR BENGALURU - 560 038 3. DR (MRS) SHEREEN HEGDE W/O SRI. B. PRASHANTH HEGDE S/O LATE RATHNAKAR HEGDE AGED ABOUT 67 YEARS, RESIDING AT NO.261, DEFENCE COLONY INDIRANAGAR - 560 038 …PETITIONERS (BY SRI. VASUDEVAN H.N., ADVOCATE) Digitally signed by SUVARNA T Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:13374 WP No. 11054 of 2024 AND: 1. THE AUTHORIZED OFFICER STATE BANK OF INDIA STRESSED ASSETS MANAGEMENT GROUP BRANCH SECOND FLOOR, OFFICE COMPLEX BUILDING LHO CAMPUS, NO.65, ST. MARKS' ROAD, BENGALURU - 560 001 2. STATE BANK OF INDIA THE DEPUTY GENERAL MANAGER / C BANK OF INDIA, SPECIALIASED MID CORPORATE 136 RAILWAY PARALLEL ROAD, KUMARA PARK WEST BENGALURU - 560 020 3. PUNJAB NATIONAL BANK LARGE CORPORATE BRANCH CENTENARY BUILDING 28, MG ROAD, BANGALORE - 560 001 REPRESENTED BY ITS DEPUTY GENERAL MANAGER/ CHIEF MANAGER 4. UNION BANK OF INDIA JC ROAD BRANCH, NO.23, IST FLOOR, ARCHANA COMPLEX, JC ROAD, BANGALORE - 560 002 REPRESENTED BY ITS ASSISTANT GENERAL MANAGER/ CHIEF MANAGER - 3 - HC-KAR NC: 2026:KHC:13374 WP No. 11054 of 2024 5. UCO BANK NO.13/22, K G ROAD, BANGALORE - 560 009 REPRESENTED BY ITS ASSISTANT GENERAL MANAGER/ CHIEF MANAGER 6. UNION BANK OF INDIA SARAKKI LAYOUT BRANCH SRAKKI INDUSTRIAL AREA OPP TO MINI FOREST J P NAGAR, BANGALORE 560 078 REPRESENTED BY ITS CHIEF MANAGER …RESPONDENTS (BY SRI. K.N. PHANINDRA, SENIOR ADVOCATE FOR SRI. CHANDRAKANTH PATIL, ADVOCATE C/R) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO i) ORDER SETTING ASIDE THE ORDERS DATED 12/03/2024 PASSED BY THE HONBLE DRT I, CHENNAI IN T.S.A. NO.9 OF 2023 AT ANNEXURE-A AND ETC. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE SMT. JUSTICE LALITHA KANNEGANTI - 4 - HC-KAR NC: 2026:KHC:13374 WP No. 11054 of 2024 ORAL ORDER The present writ petition is filed by the Company i.e. Metal Closures Private Limited, represented by its Managing Director, who is the second petitioner. The third petitioner is the guarantor. 2. The writ petition is filed seeking the following prayers: “ (i) Issue a writ of certiorari or any other writ or order setting aside the orders dated 12.03.2024 passed by the Hon'ble DRT I, Chennai in T.S.A. No. 9 of 2023 at Annexure-A; (ii) Issue a writ of certiorari or any other writ or order setting aside the orders dated 21.03.2024 passed by the Hon'ble DRT I, Chennai in T.S.A. No. 9 of 2023 in respect of the Schedule properties at Annexure-B. (iii) Issue a writ of certiorari or any other writ or order setting aside the possession notices issued by the Respondent No. 1 dated 11.12.2015 at Annexure Q, 14.12.2015 at Annexure Q1, 21.01.2016 at Annexure Q2, 21.01.2016 at Annexure - 5 - HC-KAR NC: 2026:KHC:13374 WP No. 11054 of 2024 Q3 and 21.01.2016 at Annexure Q4 as being contrary to the established procedures under the SARFAESI Act, 2002; (iv) Accordingly, set aside all actions whatsoever of the Respondent Banks that are consequential to and in furtherance of the impugned order at Annexure B.” (v) Issue a writ of mandamus or any other appropriate writ or order directing the Respondents to grant the cost of these proceedings; (vi) Such other reliefs as this Hon'ble Court deems fit to grant under the facts and circumstances of the present case and in the interests of justice and equity. 3. A Co-ordinate Bench of this Court by order dated 24.04.2024, had granted an interim order of stay that is extended from time to time. 4. When the matter came up for consideration today, the learned Senior Counsel appearing for the respondent submits that petitioner has filed Civil Appeal No.477 of 2022, questioning the order of the National Company Law Appellate - 6 - HC-KAR NC: 2026:KHC:13374 WP No. 11054 of 2024 Tribunal (for short ‘NCLAT’) dated 17.12.2021 passed in Company Appeal (AT)(Ins) No.68 of 2019 and IA No.1078 of 2021. By order impugned dated 17.12.2021, the NCLAT dismissed the appeal filed by the Managing Director and held that the application under Section 7 was within time. The Hon'ble Apex Court has affirmed the said order. It is further submitted that the proceedings are now pending before the NCLAT and that the moratorium is in force. Hence, it is contended that the second petitioner cannot represent the Company before this Court. 5. Learned counsel appearing for the petitioners submits that the Bank has now filed an application seeking change of the RP and the same is pending consideration and the case is coming up on 18.03.2026 before the NCLT. It is submitted that once orders are passed in the said application, the petitioners will submit the same before this Court and the Court can pass appropriate orders. 6. The undisputed fact in the present case is that the moratorium is in force. As long as the moratorium is in force the Bank cannot take action against the Corporate Debtor. The - 7 - HC-KAR NC: 2026:KHC:13374 WP No. 11054 of 2024 present writ petition has been filed on behalf of the Company represented by the second petitioner and third petitioner. In view of the fact that the moratorium is subsisting as far as the Company is concerned, in the considered opinion of this Court, the proceedings that are challenged in the present writ petition do not survive for consideration. 7. Nothing survives for consideration in this writ petition. Accordingly, the writ petition is disposed of, giving liberty to avail the appropriate remedy. 8. All IA’s in this petition shall stand closed. SD/- (LALITHA KANNEGANTI) JUDGE SMC List No.: 1 Sl No.: 23