- 1 - HC-KAR NC: 2026:KHC:30265 WP No. 1595 of 2023 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 19TH DAY OF JUNE, 2026 BEFORE THE HON'BLE MR. JUSTICE M.G.S. KAMAL WRIT PETITION NO. 1595 OF 2023 (GM-RES) BETWEEN: M/S NISHI FOREX AND LEISURE PVT LTD (BORROWER), REGISTERED UNDER COMPANIES ACT 2013 NO. 536, GROUND FLOOR, AMR JYOTHI LAYOUT, DOMLUR, 100 FEET INTERMEDIATE RING ROAD, BANGALORE 560 071 REPRESENTED BY ITS MANAGING DIRECTOR, MR. RAMACHANDRA K AGED ABOUT 46 YEARS. …PETITIONER (BY SRI. SHIVARAMA BHAT O.,ADVOCATE) AND: CANARA BANK JAYANAGAR 4TH T BLOCK BRANCH, NO. 364, 16TH MAIN ROAD, JAYANAGAR, 4TH BLOCK, BENGALURU - 560 041 REPRESENTED BY ITS AUTHORIZED OFFICER CHIEF MANAGER. …RESPONDENT (BY SRI. SHASHIDHARA M R.,ADVOCATE) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE IMPUGNED SALE NOTICE DATED 13.01.2023 VIDE ANNX-A ISSUED BY THE RESPONDENT UNDER THE Digitally signed by SUMA B N Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:30265 WP No. 1595 of 2023 SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT- 2002 (SARFAESI ACT) READ WITH PROVISION 2 RULE 8(6) OF THE SECURITY INTEREST RULES 2002. THIS PETITION, COMING ON FOR PRELIMINARY HEARING IN 'B' GROUP, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE M.G.S. KAMAL ORAL ORDER Petitioner is before this Court being aggrieved by the actions initiated by the respondent-Bank under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act. 2. Since effective statutory alternative remedy is provided under the SARFAESI Act, reserving liberty to the petitioner to avail such remedy, if so advised, petition is disposed of. 3. Time consumed in prosecuting this petition shall be exempted for the purpose of limitation, if steps are initiated within a period of 30 days from the date of receipt of certified copy of this order. Sd/- (M.G.S. KAMAL) JUDGE RL List No.: 1 Sl No.: 60