- 1 - HC-KAR NC: 2026:KHC:23307 WP No. 6152 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. 6152 OF 2022 (GM-DRT) BETWEEN: 1. MS SEETHALAKSHMI KARTHA AGE 52 D/O T P PADMANABHAN KARTH R/O B -5, 114 DLF WESTEND HEIGHTS AKSHAYMANAGAR, BEGUR MAIN ROAD BENGALURU -560068 2. MR RAJEEV P B AGE 46, S/O P B NAIR R/O IS, SUDHAMA RESIDENCY NO 04 MAIN INDIRANAGAR BENGALURU – 560038 3. MR ANILKUMAR C AGE 43, S/O MR. LATE D CHIKKANNA R/O SAI SRI FORTUNE HOMES NO 203, A BLOCK MALLAPPA LAYOUT, BABUSAPALYA BANGALORE 560043 4. DR. VENKATESH H K AGE 58 S/O KANAKA KESHAVA H S R/O NO -81 GREEN CITY EUTOPIA 16TH MAIN, BTM 2ND STAGE BENGALURU - 560076 5. DR. JAYALAXMI KINI AGE 62 YEARS D/O NARASIMHA KINI Digitally signed by SUNITHA K S Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:23307 WP No. 6152 of 2022 R/O NO A-801, GREEN CITY EUTOPIA, 16TH MAIN BTM 2ND STAGE BENGALURU - 560076 6. MR VIJAYA KUPPAHALLI NAGARAJA AGE 47, S/O K R NAGARAJA R/O NO 03, HEMAGIRI SBM COLONY BSK 1ST STAGE BANGALORE – 560050 7. MRS SMITHA BANGALORE KESHAVAIAH AGE 42, D/O LASKSHMI KESHAVAIAH R/O NO 03, HEMAGIRI SBM COLONY BSK 1ST STAGE BANGALORE - 560050 …PETITIONERS (BY SRI. RAJESH P., ADVOCATE) AND: 1. NATIONAL HOUSING BOARD THROUGH ITS MANAGING DIRECTOR 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 - 3 - HC-KAR NC: 2026:KHC:23307 WP No. 6152 of 2022 4. M/S TRANS UNION CIBIL LIMITED FORMERLY CREDIT INFORMATION BUREAU INDIA LIMITED, ONE WORLD CENTER 19TH FLOOR TOWER 2A AND 2B SENAPATI BAPAT MARG, LOWER PAREL MUMBAI - 400013 5. PNB HOUSING FINANCE LTD THROUGH ITS MANAGING DIRECTOR OFFICE AT 9TH FLOOR ANTRIKSH BHAVAN 22, KASTURBHA GANDHI MARG NEW DELHI - 110001 6. M/S HOUSING DEVELOPMENT FINANCE CORPORATION LILMITED THROUGH ITS MANAGING DIRECTOR HEAD OFFICE RAMON HOUSE, H T PAREKH MARG 169-BACKBAY RECLAMATION CHURCH GATE, MUMBAI - 400020 ALSO AT HOUSE NO 51, KASTURBA ROAD BANGALORE 7. M/S ADITYA BIRLA HOUSING FINANCE LIMITED R-TECH PARK, 12TH FLOOR, NIRLON COMPLEX OFF WESTERN EXPRESS HIGHWAY GOREGAON EAST MUMBAI - 400063 8. M/S AXIS BANK REGISTERED OFFICE AT TRISHUL 3RD FLOOR, OPPOSITE SAMARTHESHWAR TEMPLE LAW GARDEN ELLIS BRIDGE AHMEDABAD 380006 GUJARAT 9. M/S ICICI BANK LTD 215 FREE PRESS HOUSE FREE PRESS MARG - 4 - HC-KAR NC: 2026:KHC:23307 WP No. 6152 of 2022 NARIMAN POINT MUMBAI - 400021 10. M/S PRISHA PROPERTIES INDIA PVT LTD THROUGH ITS MANAGING DIRECTOR REGISTERED OFFICE AT 1ST FLOOR VIKAS TOWERS CASTLE STREET, ASHOK NAGAR BANGALORE - 560025 11. MR RAVISHANKAR PACNHAKSHARAIAH S/O SHRI PANCHANKSHARAIAH MADVEEREGOWDA HEGGERE DIRECTOR, M/S PRISHA PROPERTIES INDIA PVT. LTD. R/O 49, 1ST FLOOR 20-A CROSS, NEAR COFFEE BOARD LAYOUT PARK BHUVANESHWARI NAGAR H A FARM BANGALORE KARNATAKA – 560024 12. MR. SATISH SAMBAMURTHY KANUKOLANU S/O SHRI KANUKOLANU NARASIMHAMURTHY 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. VINAYGIRI, ADVOCATE FOR R2 SRI. H. SHANTI BHUSHAN, DSGI FOR R3 SRI. PINAZ MEHTA, ADVOCATE FOR R4 SRI. JAI M. PATIL, ADVOCATE FOR R6, R8 & R9 SRI. K.V. LOKESH, ADVOCATE FOR R7 R5 IS SERVED) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO - 5 - HC-KAR NC: 2026:KHC:23307 WP No. 6152 of 2022 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. 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 THE 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 PETITIONER UNDER SARFAESI ACT, 2002 AND NI ACT, 1881 OR OTHER SUCH ACTS. DIRECT THE RBI AND NHB TO INQUIRE OR APPOINT A COMMITTEE TO INQUIRE THE CONNIVANCE OF RESPONDENT BANK WITH RESPONDENT DEVELOPER IN RELATION TO DISBURSEMENT OF LOAN AMOUNT WITHOUT VERIFYING THE CONSTRUCTION WORK OR DUE DILIGENCE OF THE RESPONDENT DEVELOPER. DIRECT THE RBI AND NHB TO INSTRUCT ALL THE BANKS / FINANCIAL INSTITUTION / NON-BANKING FINANCIAL COMPANIES TO RESTRUCTURE ALL LOAN ACCOUNTS AVAILED BY THE PETITIONER ON ITS PROJECTS TO PROTECT THE INTEREST OF HOME BUYERS. DIRECTION AGAINST RESPONDENT BANK FOR VIOLATING THE RULES AND REGULATIONS LAID DOWN BY THE R-1 AND 2 AS REGULATOR FOR THE BANKING SECTOR.PASS A RESTRAINING ORDER TO ANY PERSON WHO WAS A DIRECTOR OR MANAGING DIRECTOR OR PROMOTERS OF THE RESPONDENT DEVELOPER / BUILDER, SINCE THE LAUNCHING OF THE PROJECT AS WELL AS THE PRESENT DIRECTORS OR MANAGING DIRECTOR OR PROMOTERS SHALL NOT LEAVE THE COUNTRY WITHOUT PRIOR PERMISSION OF THIS HON’BLE COURT. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE SMT. JUSTICE LALITHA KANNEGANTI - 6 - HC-KAR NC: 2026:KHC:23307 WP No. 6152 of 2022 ORAL ORDER Learned counsel appearing for the petitioners submits that they have settled the dispute amicably. Hence, nothing survives for consideration in the writ petition 2. Submission is placed on record. 3. Accordingly, the writ petition is dismissed as infructuous. 4. Pending interlocutory applications, if any, stands disposed of accordingly. Sd/- (LALITHA KANNEGANTI) JUDGE SKS