- 1 - HC-KAR NC: 2026:KHC:23306 WP No. 2634 of 2022 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 25TH DAY OF APRIL, 2026 BEFORE THE HON'BLE SMT. JUSTICE LALITHA KANNEGANTI WRIT PETITION NO. 2634 OF 2022 (GM-DRT) BETWEEN: 1. MRS RISHU SRIVASTAVA (THROUGH THEIR GPA HOLDER MR SHUBHRENDU SAXENA) AGE 36 YEARS W/O MR. GOURVENUD SAXENA R/O C 201, SARTHAK TOWER RAMDEV NAGAR, SATELLITE AHMEDABAD 380015 (GUJARAT) PRESENTLY R/AT 5D, ADAM ROAD NO 03-02, ADAM PLACE SINGAPORE 289884 2. MR GOURVENDU SAXENA (THROUGH THEIR GPA HOLDER MR SHUBHRENDU SAXENA) AGED 40 YEARS S/O SRI JITHENDRA SAXENA R/O C-201, SARTHAK TOWER RAMDEV NAGAR, SATELLITE AHMEDABAD 380015 (GUJARAT) PRESENTLY R/AT 5D, ADAM ROAD NO 03-02 ADAM PLACE SINGAPORE 289884 …PETITIONERS (BY SRI. RAJESH P., ADVOCATE) Digitally signed by SUNITHA K S Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:23306 WP No. 2634 of 2022 AND: 1. NATIONAL HOUSING BOARD THROUGH ITS MANAING DIRCTOR ADDRESS: CORE -5A INDIAN HABITAT CENTER LODHI ROAD NEW DELHI 110003 2. RESERVE BANK OF INDIA THROUGH ITS GOVERNOR ADDRESS: 6, SANSAD MARG NEW DELHI 110001 3. UNION OF INDIA THROUGH SECRETARY MINISTRY OF FINANCE ADDRESS: RAJPATH MARG E BLOCK, CENTRAL SECRETARIAT NEW DELHI 110011 4. M/S TRANSUNION CIBIL LIMITED (FORMERLY CREDIT INFORMATION BUREAU (INDIA) LIMITED ONE WORLD CENTRE 19TH FLOOR TOWER 2A AND 2B SENAPATI BAPAT MARG LOWER PAREL MUMBAI 400013 5. PNB HOUSING FINANCE LTD THROUGH ITS MANAING DIRECTOR OFFICE AT 9TH FLOOR ANTRIKSH BHVWAN 22, KASTURBHA GANDHI MARG NEW DELHI 110001 6. M/S PRISHA PROPERTIES INDIA PVT LTD THROUGH ITS MANAING DIRCTOR REGISTETRED OFFICE - 3 - HC-KAR NC: 2026:KHC:23306 WP No. 2634 of 2022 1ST FLOOR VIKAS TOWERS CASTEL STREET ASHOK NAGAR BANGALORE KA 560025 7. RAVISHANKAR PANCHAKSHARAIAH S/O SHRI PANCHAKSHARAIAH MADVEREREGOWDA HEGGERE DIRECTOR M/S PRISHA PROPERTIES INDIA PVT. LTD. R/O NO 49, 1ST FLOOR 20 A CROSS NEAR COFFEE BOARD LAYOUT PAR BHUVANEWSHWARI NAGAR, HA FARM BANGALORE KARNATAKA 560024 8. SATISH SAMBAMURTHY KANUKOLANU S/O SHRI KANUKOLANU NARASIHMAMURTHY DIRECTOR M/S PRISHA PROPERTIES INDIA PVT LTD R/O 3-6-110/A/B NEAR ANDHRA BANK ATM HIMAYATH NAGAR HYDERABAD TELANGANA 500029 …RESPONDENTS (BY SRI. RAJASHEKAR S., ADVOCATE FOR R1 SRI. V VINAYGIRI, ADVOCATE FOR R2 SRI. H. SHANTHI BHUSHAN, DSGI FOR R3 SRI. PINAZ MEHTA, ADVOCATE FOR R4 SRI. FRANCIS XAVIER, ADVOCATE FOR R5) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO DIRECT RESPONDENT BANK TO CEASE AND DESIST FROM RECOVERING PRE-EMI AND EMI PAYMENTS FROM THE PETITIONERS AGAINST THE FUNDS DISBURSED BY THEM TO THE RESPONDENT DEVELOPER, UNTIL THE RESPONDENT DEVELOPER HONORS THE BUYBACK AGREEMENT IN FULL. - 4 - HC-KAR NC: 2026:KHC:23306 WP No. 2634 of 2022 DIRECT THE RESPONDENT BANK TO REFUND THE PRE-EMIs AND EMIs PAID BY THE PETITIONERS TO THE PETITIONERS AND RECOVER THE SAME FROM THE RESPONDENT DEVELOPER. DIRECT RESPONDENT BANK AND R-4 TO CORRECT THE CIBIL SCORE OF THE PETITIONERS. DIRECT THE RESPONDENT BANK TO NOT TO TAKE ANY COERCIVE ACTION AGAINST THE PETITIONERS UNDER SARFAESI ACT, 2002 AND NI ACT, 1881 AND ETC. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE SMT. JUSTICE LALITHA KANNEGANTI ORAL ORDER The memo is filed on behalf of the respondent-bank on 15.11.2025 stating that during the pendency of the writ petition, the petitioner/borrower has settled the loan account under one time settlement for an amount of ₹70,00,000/- and in view of the settlement, the writ petition does not survive for consideration. 2. The Memo for reporting settlement is placed on record. 3. Considering the fact that the dispute between the parties is settled, the writ petition is dismissed as infructuous. - 5 - HC-KAR NC: 2026:KHC:23306 WP No. 2634 of 2022 4. Pending interlocutory applications, if any, stands disposed of accordingly. SD/- (LALITHA KANNEGANTI) JUDGE SKS List No.: 1 Sl No.: 1