- 1 - HC-KAR NC: 2026:KHC:27976 CRL.P No. 6870 of 2019 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 10TH DAY OF JUNE, 2026 BEFORE THE HON'BLE MR. JUSTICE RAVI V HOSMANI CRIMINAL PETITION NO. 6870 OF 2019 BETWEEN: 1. SRI DIWAKAR (CORRECT NAME IS SRI DINESH.N) S/O LATE SRI NAGARAJ, AGED ABOUT 40 YEARS, 2. SRI HARISH N., S/O LATE SRI K. NAGARAJ, AGED ABOUT 44 YEARS, BOTH R/AT NO.543/242 & 544/242/A BBMP NO.2/A, KODIHALLI VILLAGE MAIN ROAD, VARTHUR HOBLI, BMP WARD NO.74, BENGALURU - 560 087. …PETITIONERS [BY SRI. P B RAJU, ADVOCATE (AB)] AND: INDIA BULLS HOUSING FINANCE LTD., NO.M-62 & 63, 1ST FLOOR, CONNAUGHT PLACE, NEW DELHI - 110 001. AND BRANCH OFFICE AT NO.116, 1ST FLOOR, KRISHNA ARCADE, BETWEEN 11TH AND 12TH CROSS, MARGOSA MAIN ROAD, MALLESHWARAM, BENGALURU-560 003. REP BY ITS AUTHORIZED OFFICER, SRI M.B.CHANGAPPA. …RESPONDENT (BY SRI FRANCIS XAVIER, ADVOCATE) Digitally signed by ANUSHA V Location: High Court of Karnataka - 2 - HC-KAR NC: 2026:KHC:27976 CRL.P No. 6870 of 2019 THIS CRL.P IS FILED U/S.482 CR.P.C PRAYING TO SET ASIDE THE IMPUGNED ORDER DATED 27.08.2019 PASSED BY 10th ACMM, MAYO HALL UNIT, BENGALURU IN CRL.MISC.NO.50238/2018. THIS PETITION IS COMING ON FOR ADMISSION, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE RAVI V HOSMANI ORAL ORDER Challenging order dated 27.08.2018 passed by X ACMM, Mayohall, Bengaluru, in Crl.Misc.no.50238/2018 under Section 14 of Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), this petition is filed. 2. None appears for petitioners. 3. Sri Francis Xavier, learned counsel for respondent submitted, Hon'ble Supreme Court in M/s.Phonenix Arc Private Limited v. Ganesh Murthy & Anr. reported in 2023 SCC OnLine SC 855 has held order passed by Magistrate under Section 14 of SARFAESI Act, cannot be challenged under Section 482 of Code of Criminal Procedure, 1973 and aggrieved parties have to avail remedies under provisions of SARFAESI - 3 - HC-KAR NC: 2026:KHC:27976 CRL.P No. 6870 of 2019 before Tribunal. In view of above, petition would not be sustainable and sought for dismissal. 4. Heard learned counsel and perused impugned order. 5. In view of authoritative pronouncement by Hon'ble Supreme Court, present petition filed under Section 482 of CrPC challenging order passed by Magistrate on an application filed under Section 14 of SARFAESI Act would not be tenable. 6. Accordingly, petition is dismissed reserving liberty to petitioners to urge all contentions, in case they choose to approach Tribunal. 7. In view of disposal of petition, pending applications also dismissed. Sd/- (RAVI V HOSMANI) JUDGE AV List No.: 1 Sl No.: 24