- 1 - HC-KAR NC: 2026:KHC:23308 WP No. 15506 of 2021 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. 15506 OF 2021 (GM-DRT) BETWEEN: 1. MR DEEPANKAR ARORA S/O MR KRISHAN KUMAR AGED ABOUT 38 YEARS, RESIDING AT E1403 PURVA VENEZIA MAJOR SANDEEP UNIKRISHNAN ROAD YELAHANKA NEW TOWN BANGALORE-560064 2. MR SHIVANANDA G MATHAD S/O MR G G MATHAD AGED ABOUT 47 EARS, RESIDING AT NO.1020 10TH MAIN WCR II STAGE MAHALAKSHMIPURAM BANGALORE-560086 ALSO AT A103 OZONE URBANA PAVILION NH44 KANNAMANGALA DEVANAHALLI BANGALORE-562110 3. MR SUBHAGATA JOARDAR S/O MR DIPAK CHANDRA JOARDAR AGED ABOUT 44 YEARS, RESIDING AT B803 AUGUST PARK APARTMENT, KAGGADASAPURA MAIN ROAD, CV RAMAN NAGAR Digitally signed by SUVARNA T Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:23308 WP No. 15506 of 2021 BANGALORE-560093 (DELETED VIDE COURT ORDER DATED 12.09.2024) 4. MR VIKAL VIKAS S/O MR PRABHAT KUMAR AGED ABOUT 34 YEARS, RESIDING AT QUARTER NO. E156 OLD B S E B COLONY PATNA BIHAR-800023 5. MR PREEJITH PONNETH S/O MR A PRABHAKARAN AGED ABOUT 42 YEARS, RESIDING AT PONNETH HOUSE A-3 AMULYA PARK, BLOCK 2 NRI LAYOUT, KALKERE ROAD RAMAMURTHY NAGAR, BANGALORE-560016 6. MR VIJAYABALAN MAHALINGAM S/O MR K MAHALINGAM AGED ABOUT 37 YEARS, RESIDING AT NO.12 GROUND FLOOR 2ND CROSS, BALAJI NILAYA BEHIND SATHYA HOSPITAL KAMMANAHALLI BANGALORE-560043 7. MRS. KANIKA SINGHAL W/O MR SIDDHARTHA PANDEY AGED ABOUT 35 YEARS, RESIDING AT NO.313 JALAVAYU TOWERS, SADANAND NAGAR NGEF LAYOUT BAIYAPPANAHALLI BANGALORE-560038 8. MRS MANISHA SINGH W/O MR GAURAV SRIVASTAVA AGED ABOUT 37 YEARS, - 3 - HC-KAR NC: 2026:KHC:23308 WP No. 15506 of 2021 RESIDING AT NO.601 ELELINA, HIRANANDANI ESTATE THANE, MAHARASHTRA-400607 9. MR ASHISH THUKRAL S/O MR ARVIND THUKRAL AGED ABOUT 46 YEARS, RESIDING AT A-1302, BRIGADE METROPOLIS MAHADEVAPURA WHITEFIELD MAIN ROAD BANGALORE-560048 10. NEERAJ GUPTA S/O MR NAROTTAM DAS GUPTA AGED ABOUT 34 YEARS, RESIDING AT NO.ETA THE GARDENS C BLOCK NO.201 MAGADI ROAD BANGALORE-560023 11. RAVIKUMAR JAMI S/O SUDARSANA RAO JAMI AGED ABOUT 43 YEARS, RESIDING AT FLAT NO.204 CRYSTAL WEST APARTMENTS 48-2-11/10 SRINAGAR VISHAKAPATNAM-530016 12. SRIDHAR PASALA S/O MR BHASKARRAO PASALA AGED ABOUT 31 YEARS, RESIDING AT NO.303 SRISHTI PRADHAN KAVERAPPA LAYOUT PANATHUR BANGALORE-560103 - 4 - HC-KAR NC: 2026:KHC:23308 WP No. 15506 of 2021 13. SUNIL R S/O MR RAVINDRAN NAMBIAR AGED ABOUT 42 YEARS, RESIDING AT FLAT NO.301, 196, SAIDHAM 5TH CROSS, VENKATESHWARANAGAR JAKKUR POST, BANGALORE-560064 14. SUSHESH S MALLYA S/O LATE V SUDHAKARA MALLYA AGED ABOUT 44 YEARS, RESIDING AT NO.730A, 3RD CROSS, RAMESHNAGAR BANGALORE-560037 15. NIKUNJA KUMAR PARIDA S/O MR KISHOR CHNADRA PARIDA AGED ABOUT 49 YEARS, RESIDING AT FLAT NO.301, RADIENT KATRIEL APARTMENT SEETARAM PALYA HOODY WHITEFIELD, BANGALORE-560048 16. ARUP KUMAR DAS S/O MR DAS AGED ABOUT 38 YEARS, RESIDING AT NO.16, 3RD CROSS, VYALIKAL LAYOUT NAGAWARA BANGALORE-560045 …PETITIONERS (BY SRI. SRINIVAS V., ADVOCATE) AND: 1. UNION OF INDIA MINISTRY OF HOUSING AND URBAN AFAIRS THROUGH ITS STANDING COUNSEL NIRMAN BHAWAN, MAULANA AZAD ROAD, NEW DLEHI-110011 - 5 - HC-KAR NC: 2026:KHC:23308 WP No. 15506 of 2021 2. RESERVE BANK OF INDIA THROUGH THE SECRETARY HAVING ITS OFFICE AT 6 SANSAD MARG NEW DELHI-110001 3. HOUSING DEVELOPMENT FINANCE CORPORATION LTD THROUGH ITS AUTHORIZED REPRESENTATIVE REGD OFFICE RAMON HOUSE H T PAREKH MARG-169 BACKBAAY RECLAMATION CHURCHGATE MUMBAI-400020 4. M/S OZONE DEVELOPERS BANGLAORE PVT LTD A COMPANY REGISTERED UNDER THE COMPANIES ACT 1956 HAVING ITS OFFICE AT NO.8, ULSOOR ROAD BENGALURU-560042 THROUGH ITS MANAGING DIRECTOR 5. M/S OZONE URBANA INFRA DEVELOPERS PVT LTD A COMPANY REGISTERED UNDER THE COMPANIES ACT 1956 HAVING ITS OFFICE AT NO.8 ULSOOR ROAD BENGALURU-560042 THROUGH ITS MANAGING DIRECTOR 6. VENKATESH GANESH IYER ALLOTTEE OF: FLAT NO. K-203 AND K-303, FLAT NO. D-401 S/O R. S. GANESHAN AGED ABOUT: 54 YEARS OCCU: SELF-EMPLOYED R/O.: PRIDE APARTMENTS FLAT NO. D-401 BILEKAHALLI, BANNERGHATTA ROAD, BANGALORE - 560 076. - 6 - HC-KAR NC: 2026:KHC:23308 WP No. 15506 of 2021 7. GR MALLIKARJUNA REDDY ALLOTTEE OF: FLAT NO. K-001 S/O G. R. SUBBA REDDY AGED ABOUT: 50 YEARS OCCU: EMPLOYED R/O. NO. 75, 1ST FLOOR, 5TH CROSS, SECTOR A, MUNISHWARA BLOCK, AMRUTH NAGAR, BANGALORE - 560 092 8. VISVESWARAN SUBRAMANIAM ALLOTTEE OF: FLAT NO. G-403 S/O S. R. SUBRAMANIAM AGED ABOUT: 44 YEARS OCCU: EMPLOYED R/O.: 134, 2ND MAIN, 3RD CROSS, DOMLUR LAYOUT, BANGALORE - 560 071 9. ANIL KUMAR IMMANENI ALLOTTEE OF: FLAT NO. K-701 S/O-SUDHAKAR RAO AGED ABOUT: 41 YEARS OCCU: EMPLOYED R/O.: 134, 2ND MAIN, 3RD CROSS, DOMLUR LAYOUT, BANGALORE-560 071. 10. ΝΕΕΝA SHIBU ALLOTTEE OF: FLAT NO. Κ-202 S/O RADHAKRISHNA SHIBU AGED ABOUT: 48 YEARS OCCU: EMPLOYED R/O.: 39, 1ST CROSS, SHIRDI SAI RATHAN LAYOUT, DR. SHIVARAM KARANTH NAGAR, BANGALORE-560 077. 11. NAREN GUDDERA UTHAIAH ALLOTTEE OF: FLAT NO. G-501 S/O G.K. UTHAIAH AGED ABOUT: 55 YEARS - 7 - HC-KAR NC: 2026:KHC:23308 WP No. 15506 of 2021 OCCU: EMPLOYED R/O.: NO. 439, 12TH CROSS, BHUVANESHWARI NAGAR, DASARAHALLI ROAD, HA FARM POST. BANGALORE-560 024. 12. SHAHJAHAN SHAHUL HAMEED ALLOTTEE OF: FLAT NO.. K-501 S/O-SHAHUL HAMEED AGED ABOUT: 49 YEARS OCCU: EMPLOYED R/O.: FLAT #S-7, A.P.S. LAXURIA 2E/7, LAWSON'S ROAD, CANTONMENT, TIRUCHIRAPALLI-620 001 TAMIL NADU. 13. RAKESH KUMAR CHAURASIA ALLOTTEE OF: FLAT NO. D-501, AGED ABOUT 45 YEARS. S/O. SHRI BINDU PRASAD CHAURASIA, R/O 201, SLS SYMPHONY, 22ND CROSS, BHUVNESHWARI NAGAR, DASARAHALLI MAIN ROAD, BANGALORE -560 085 14. DEBASHISH KUMAR HAR ALLOTTEE OF: FLAT NO. K-702, AGED ABOUT 44 YEARS, S/O. LATE AJOY KUMAR HAR, R/O. G205, MANTRI ALPYNE, DR. VISHNUVARDHAN ROAD, BANGALORE -560 061 15. MS. ANJU KALRA ALLOTTEE OF: FLAT NO. N-904, AGED ABOUT 41 YEARS, D/O RAMESH CHANDER, R/O. #B-6-1169, STREET NO. 12-B, MODEL TOWN, ABOHAR, - 8 - HC-KAR NC: 2026:KHC:23308 WP No. 15506 of 2021 FAZILKA, PUNJAB - 152116 …RESPONDENTS (BY SRI. H. SHANTI BHUSHAN, DSGI FOR R1 V/O DATED 11.12.2025 SRI. V. VINAY GIRI, ADVOCATE FOR R2 SRI. FRANCIS XAVIER, ADVOCATE FOR R3 SMT. VANDANA P.L., ADVOCATE FOR R4 & 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 BUILDER, UNTIL THE DATE OF POSSESSION. 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 BUILDER. DIRECT THE RBI TO INSTRUCT ALL THE BANKS / FINANCIAL INSTITUTIONS / NON-BANKING FINANCIAL COMPANIES TO RESTRUCTURE ALL LOAN ACCOUNTS AVAILED BY THE PETITIONER ON ITS PROJECTS TO PROTECT THE INTEREST OF THE HOME BUYERS. ISSUE DIRECTION AGAINST RESPONDENT BANK FOR VIOLATING THE RULES AND REGULATIONS LAID DOWN BY THE R1 AND R2 AS A REGULATOR FOR THE BANKING SECTOR. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 9 - HC-KAR NC: 2026:KHC:23308 WP No. 15506 of 2021 CORAM: HON'BLE SMT. JUSTICE LALITHA KANNEGANTI ORAL ORDER The present writ petition is filed seeking the following prayer: “(i) Issue an appropriate writ, order or direction in the nature of writ of mandamus or any other direction directing 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 Builder, until the date of possession. (ii) Issue a Writ in the nature of Mandamus/Certiorari or any other writ directing the Respondent Bank to refund the Pre-EMIS and EMIS paid by the Petitioners to the Petitioners and recover the same from the Respondent builder; (iii) Issue appropriate writ, direction or order directing the RBI to instruct all the banks/financial institutions/non-banking financial companies to restructure all loan accounts availed by the petitioner on its projects to protect the interest of the home buyers; iv) Issue appropriate order or direction against Respondent bank for violating the rules and regulations laid down by the respondent No.1 and 2 as a regulator for the banking sector. (v) Issue such other writ, order or direction as deemed fit in the circumstances of the case.” 2. Learned counsel appearing for the respondents has taken the objection that there are 16 petitioners, each of them - 10 - HC-KAR NC: 2026:KHC:23308 WP No. 15506 of 2021 have a different tripartite agreement, and therefore the writ petition is not maintainable on behalf of all the petitioners. 3. Learned counsel appearing for the petitioners submits that some of the petitioners want to pursue the matter to secure the asset, while some of them are not interested. In these circumstances, liberty may be granted to file independent cases so that they will be able to demonstrate before the Court what are the agreements and what are the violations on behalf of the respondent/Bank. 4. It is submitted that there is an interim order in favour of the petitioners operating from the year 2021, thereby, the Bank was directed not to take any coercive steps. It is submitted that protection may be granted until the Court reopens, and immediately he will be filing the petitions. 5. Considering the fact that the reliefs sought before this Court are on behalf of these 16 petitioners, it cannot be considered in one writ petition as everyone has their own cases, and different reliefs. In that view of the matter, this Court deems it appropriate to dispose of the writ petition with a - 11 - HC-KAR NC: 2026:KHC:23308 WP No. 15506 of 2021 liberty to the petitioners to file a fresh writ petition within a period of 50 days. 6. Accordingly, this Court is passing the following: ORDER i. The writ petition is disposed of giving liberty to the petitioners to file a fresh petition within a period of 50 days from 25.04.2026. ii. Till such time, the Bank shall not take any coercive steps. iii. Pending interlocutory applications, if any, stands disposed of accordingly. Sd/- (LALITHA KANNEGANTI) JUDGE SKS