- 1 - HC-KAR NC: 2026:KHC:10116-DB WP No. 31695 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 18TH DAY OF FEBRUARY, 2026 PRESENT THE HON'BLE MR. JUSTICE D K SINGH AND THE HON'BLE MR. JUSTICE S RACHAIAH WRIT PETITION NO. 31695 OF 2024 (GM-RES) BETWEEN: 1. KESAVA KOLAR, AGED ABOUT 50 YEARS, MANAGING DIRECTOR, M/S MAXWORTH REALITY INDIA PVT. LTD, KHP HOUSE, NO. 12/2, YAMUNABAI ROAD, MADHAVA NAGAR, BENGALURU - 560001. 2. MR. KESHAV HEMALATHA AGED MAJOR, DIRECTOR, M/S MAXWORTH REALITY INDIA PVT. LTD, KHP HOUSE, NO. 12/2, YAMUNABAI ROAD, MADHAVA NAGAR, BENGALURU - 560001. 3. MR. SAGAR GANGARAJU HUSSERAMANE AGED MAJOR, DIRECTOR, M/S MAXWORTH REALITY INDIA PVT. LTD, KHP HOUSE, NO. 12/2, YAMUNABAI ROAD, MADHAVA NAGAR, Digitally signed by VASANTHA KUMARY B K Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:10116-DB WP No. 31695 of 2024 BENGALURU - 560001. …PETITIONERS (BY SRI. NISHAN G K., ADVOCATE) AND: 1. MR. RAVI SHANKAR DEVARAKONDA, AGED MAJOR, D 602, PRESTIGE ST. JOHNSWOOD APARTMENTS, NO. 80, TAVERAKERE MAIN ROAD, BANGALORE - 560029. …RESPONDENT (BY SRI. KAMMA NARAYANA., ADVOCATE) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO ISSUE A WRIT/ ORDER / DIRECTION IN THE NATURE OF A WRIT OF CERTIORARI OR SUCH OTHER APPROPRIATE WRIT /ORDER OR DIRECTION QUASHING THE IMPUGNED ORDER DATED 21.10.2024 (ANNEXURE-A) WHEREIN BAILABLE WARRANTS WITH A DIRECTION TO EXECUTE THE ARREST WARRANT HAS BEEN ISSUED AGAINST THE PETITIONERS, ETC. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 3 - HC-KAR NC: 2026:KHC:10116-DB WP No. 31695 of 2024 CORAM: HON'BLE MR. JUSTICE D K SINGH and HON'BLE MR. JUSTICE S RACHAIAH ORAL ORDER (PER: HON'BLE MR. JUSTICE D K SINGH) The present writ petition has been filed impugning the order dated 21.10.2024 passed by the NCLT, Bengaluru Bench, Bengaluru in Contempt Petition No.01/2020 in CP (IB) No.90/BB/2017 wherein the contempt petition has been filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 (for short, 'the IBC-2016'). 2. The Company Law Tribunal vide impugned order has directed to execute the arrest warrant and produce the contemnors who are the petitioners before this Court for willful defiance and disobedience of the order passed by the Company Law Tribunal on 02.09.2024. 3. We do not find any ground to interfere with the impugned order. However, if the petitioners are aggrieved by the said order passed in the contempt petition, they may approach the Company Law Appellate Tribunal under the provisions of the IBC-2016. Since an effective alternative - 4 - HC-KAR NC: 2026:KHC:10116-DB WP No. 31695 of 2024 remedy of appeal is provided under the statute, this Court cannot exercise its jurisdiction under 226 or 227 of the Constitution of India. We, therefore, dismiss this writ petition. 4. However, if the petitioner pays remaining amount of Rs.3,00,000/- as per the order dated 02.09.2024, within a period of two weeks, the non-bailable warrant issued against the petitioners shall be kept in abeyance. Sd/- (D K SINGH) JUDGE Sd/- (S RACHAIAH) JUDGE RKA List No.: 1 Sl No.: 11