- 1 - HC-KAR NC: 2026:KHC:9938 WP No. 4347 of 2026 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 18TH DAY OF FEBRUARY, 2026 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 4347 OF 2026 (GM-POLICE) BETWEEN: MUTHOOT FINANCE LIMITED A COMPANY INCORPORATED UNDER THE COMPANIES ACT 1956 HEAD OFFICE AT MUTHOOT CHAMBERS, OPP. SARITHA THEATRE COMPLEX, BANERJEE ROAD, KOCHI 682 018 HAVING ONE OF ITS BRANCH AT BUILDING NO.43, MANCHIGAIAH COMPLEX, M M ROAD, BANNUR - 574151 REP BY ITS AUTHORIZED OFFICER AJUMON P GEORGE. …PETITIONER (BY SRI. ANISH JOSE ANTONY.,ADVOCATE) AND: 1. STATE OF KARNATAKA BY ITS SECRETARY, HOME DEPARTMENT, Digitally signed by RAKESH S HARIHAR Location: High Court of Karnataka, Dharwad Bench - 2 - HC-KAR NC: 2026:KHC:9938 WP No. 4347 of 2026 VIDHANA SOUDHA, BENGALURU - 560001. 2. THE POLICE SUB INSPECTOR / INVESTIGATION OFFICER BANNUR POLICE STATION, T NARASIPURA, KARNATAKA STATE - 571101. …RESPONDENTS (BY SRI.B. RAVINDRANATH., AGA) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO- A. DECLARE THAT THE INTERFERENCE BY THE RESPONDENTS IN PETITIONER BUSINESS FOR FORCEFULLY ATTEMPTING TO SEIZE THE GOLD ARTICLES PLEDGED BY IT CUSTOMERS WITHOUT FOLLOWING THE PROCEDURES UNDER SECTION 107 OF BNSS. 2023 IS ARBITRARY AND IS IN VIOLATION OF FUNDAMENTAL RIGHTS GUARANTEED UNDER ARTICLES 19(1)(G) AND 21 AND THE CONSTITUTIONAL RIGHTS GUARANTEED UNDER GUARANTEED UNDER ART 300A OF THE CONSTITUTION OF INDIA 1950; B. ISSUE A WRIT OF MANDAMUS TO THE 2ND RESPONDENT TO FOLLOW THE PROCEDURES UNDER SECTION 107 OF BNSS 2023, IN THE EVENT THE 2ND RESPONDENT INTENDANT TO SEIZE THE GOLD ARTICLES FROM THE PETITIONER FROM ANY BRANCHES WITH REGARDS TO CRIME NO. 0268/2025 VIDE ANNEXURE-D DATED 21.12.2025 REGISTERED BY 2ND RESPONDENT POLICE. - 3 - HC-KAR NC: 2026:KHC:9938 WP No. 4347 of 2026 THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD ORAL ORDER The petitioner - a Company registered under the Provisions of the Companies Act, 1956 [a Non- Banking Financial Company] - is aggrieved by the second respondent's notice dated 06.02.2026 [Annexure-C]. The second respondent has issued this notice calling upon the petitioner to produce gold and silver jewellery [the jewellery] deposited by the accused in Crime No.268/2025. 2. If the petitioner contends that the accused [named by the second respondent] has pledged the jewellery on 08/09.12.2025 asserting that it is purchased in the year 2019, the second respondent has issued this notice because of the first information filed alleging that the petitioner's borrower has enticed a minor to elope with him and part with the - 4 - HC-KAR NC: 2026:KHC:9938 WP No. 4347 of 2026 jewellery pledged. The petitioner seeks to dispute the authority in the second respondent to call upon the petitioner to produce the jewellery without following the procedure contemplated under Bharatiya Nagarik Suraksha Sanhita, 2023 [the BNSS]. 3. This Court has called upon the petitioner's representative to file an undertaking on retaining the jewellery subject to investigation and trial. The petitioner's authorized signatory - Sri Sudarshan B. S. has filed such affidavit which in its material part reads as under: "xxxxx (i) That the petitioner will not handover the pledged ornaments to the pledgor or any other person representing him or permit redemption of the pledges without prior permission from the concerned Court trying the FIR in Crime No.268/2015. (ii) That the petitioner shall not sell, dispose of, or part with possession of the pledged ornaments without prior possession of the pledged ornaments without prior - 5 - HC-KAR NC: 2026:KHC:9938 WP No. 4347 of 2026 permission from the concerned Court trying the FIR in Crime No.268/2015. (iii) That the petitioner shall produce the pledged ornaments before the concerned Court as and when directed by the concerned Court in relation to the FIR in Crime No.268/2025." 4. Sri Anish Jose Antony, the learned counsel for the petitioner, and Sri B.Ravindranath, the learned Additional Government Advocate for the respondents, are heard for disposal of the petition in the peculiarities of the case without entering into the merits of the petitioner's case as those can be considered in an appropriate proceeding. Crucially, the petitioner does not dispute that it has received the jewellery that is referred to in the impugned notice and the second respondent has issued this notice referring to a first information filed. 5. It transpires, to this Court's satisfaction, that the second respondent must have the benefit of - 6 - HC-KAR NC: 2026:KHC:9938 WP No. 4347 of 2026 inspection of the jewellery deposited until the orders of the learned Magistrate in the proceedings emanating from FIR in Crime No.268/2025 and the petitioner must ensure that jewellery is retained subject to further orders in the proceedings that emanate from the FIR in Crime No.268/2025. In the light of the afore, the following: ORDER The petition stands disposed of calling upon the petitioner to retain the jewellery deposited until the orders of the learned Magistrate in the proceedings emanating from FIR in Crime No.268/2025 without in any manner diluting the same custody of such jewellery but on the stipulation that: [i] the petitioner shall ensure that the jewellery is produced before the second respondent for completion of the investigation, and - 7 - HC-KAR NC: 2026:KHC:9938 WP No. 4347 of 2026 [ii] the petitioner shall also produce the jewellery when called upon by the jurisdictional Court which shall be at liberty to pass orders on the custody. Sd/- (B M SHYAM PRASAD) JUDGE SA ct:sr