CORNERSTONE PROPERTIES PRIVATE LIMITED v. ASSET RECONSTRUCTION COMPANY INDIA LIMITED
WP/15182/2025 · 2026-04-30
Sachin Shankar Magadum
body2026
DailyLaw.ai
[ 2026 DAILYLAW 13172 (KAR) · dailylaw.ai ]
DailyLaw.ai
[ 2026 DAILYLAW 13172 (KAR) · dailylaw.ai ]
Judgment text
Extracted from the PDF above. The PDF is authoritative.
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HC-KAR NC: 2026:KHC:24415 WP No. 15182 of 2025 C/W WP No. 12135 of 2025
IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 30TH DAY OF APRIL, 2026 BEFORE THE HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM WRIT PETITION No. 15182 OF 2025 (GM-RES) C/W WRIT PETITION No. 12135 OF 2025 (GM-RES)
IN WP No. 15182/2025 BETWEEN:
1. CORNERSTONE PROPERTIES PRIVATE LIMITED HAVING ITS REGISTERED OFFICE AT No. 583 1ST CROSS, 9TH MAIN, OFF CMH ROAD 1ST STAGE, INDIRANAGAR BENGALURU- 560 038. REPRESENTED BY ITS AUTHORIZED REPRESENTATIVE DIRECTOR MR. KIRAN POONACHA. 2. CORNERSTONE BAY EAST DEVELOPERS PRIVATE LIMITED HAVING ITS REGISTERED OFFICE AT No. 583 1ST CROSS, 9TH MAIN, OFF.CMH ROAD 1ST STAGE, INDIRANAGAR BENGALURU- 560 038. REPRESENTED BY ITS AUTHORIZED REPRESENTATIVE MANAGER MR. KIRAN POONACHA. 3. CHRYSOLITE PROPERTY DEVELOPMENTS PRIVATE LIMITED FORMERLY KNOWN AS MAVERICK PROPERTY INVESTMENTS PRIVATE LIMITED HAVING ITS REGISTERED OFFICE AT No. 583
Digitally signed by CHAITHRA A Location:
HIGH COURT OF KARNATAKA
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HC-KAR NC: 2026:KHC:24415 WP No. 15182 of 2025 C/W WP No. 12135 of 2025
1ST CROSS, 9TH MAIN, OFF CMH ROAD 1ST STAGE, INDIRANAGAR BENGALURU- 560 038. REPRESENTED BY ITS AUTHORIZED REPRESENTATIVE MANAGER MR. KIRAN POONACHA (PETITONER No.1 TO 3 UNDER REGISTERED COMPANIES ACT, 1956)
…PETITIONERS
(BY SRI RAKSHITH PAI, ADVOCATE FOR SRI SUNDARA RAMAN M V, ADVOCATE)
AND:
1. ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED HAVING ITS REGISTERED OFFICE AT THE RUBY 10TH FLOOR, 29 SENAPATI BAPAT MARG DADAR (WEST), MUMBAI- 400 028. (UNDER REGISTERED COMPANIES ACT 1956 REP. BY ITS - CHIEF MANAGER- PRAFUL KALIKA
…RESPONDENT
(BY SRI TEJAS S R, ADVOCATE)
THIS WRIT PETITION IS FILED UNDER ARTICLE 226 OF CONSTITUTION OF INDIA PRAYING TO DIRECT THE RESPONDENT TO RENDER THE STATEMENT OF ACCOUNTS AS ON THE DATE OF DISPOSAL OF THE WRIT PETITION, AFTER CONSIDERING THE REPRESENTATIONS OF THE PETITIONERS, THE AMOUNTS PAID AND THE AMOUNTS DULY ADJUSTED WITH RESPECT TO THE DEBT OF THE PETITIONERS, WITH DETAILED PARTICULARS SUBSEQUENT TO THE ASSIGNMENT OF THE DEBT; AND ETC,
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HC-KAR NC: 2026:KHC:24415 WP No. 15182 of 2025 C/W WP No. 12135 of 2025
IN WP No. 12135/2025
BETWEEN:
1. MRS. VINODHINI MAHESH AGED ABOUT 43 YEARS WIDOW OF LATE MAHESH RAMDAS RESIDING AT No.2099, 16TH B MAIN HAL II STAGE, INDIRANAGAR BENGALURU-560 008. CELL NO. 91 9741633631 ...PETITIONER
(BY SRI M MOHAMED IBRAHIM, ADVOCATE)
AND:
1.
M/S. ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED A COMPANY INCORPORATED UNDER THE COMPANIES ACT OF 1956 AND AN ASSET RECONSTRUCTION COMPANY REGISTERED UNDER SECTION 3 OF THE SECURITISATION AND RECONSTRUCTION OF SECURITY INTEREST ACT, 2002;
HAVING ITS REGISTERED OFFICE THE RUBY 10TH FLOOR, 29, SENAPATHI BAPAT MARG DADAR (WEST) MUMBAI - 400 028. REPRESENTED BY ITS AUTHORISED OFFICER E-MAIL:PRAFUL.KALIKA@ARCIL.CO.IN; ...RESPONDENT (BY SRI. TEJAS S R, ADVOCATE)
THIS WRIT PETITION IS FILED UNDER ARTICLE 226 OF CONSTITUTION OF INDIA PRAYING TO DIRECT IN THE NATURE OF WRIT QUASH AND SET ASIDE THE NOTICE DTD 29.03.2025 ISSUED BY THE RESPONDENT UNDER SUB-SEC (2) OF SEC 13 OF THE SARFAESI ACT 2002 ACT, PRODUCED IN ANNEXURE-B.
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HC-KAR NC: 2026:KHC:24415 WP No. 15182 of 2025 C/W WP No. 12135 of 2025
THESE PETITIONS, COMING ON FOR ORDERS THIS DAY,
ORDER WAS MADE THEREIN AS UNDER:
CORAM: HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM
ORAL ORDER
Learned counsel for the petitioners in these petitions has filed a memo dated 30.04.2026 seeking permission of this Court to withdraw the writ petitions.
2. The said memo is taken on record.
3. In view of the above said memo, the writ petitions are dismissed as withdrawn.
Sd/- (SACHIN SHANKAR MAGADUM) JUDGE
DKB List No.: 2 Sl No.: 37