- 1 - HC-KAR NC: 2026:KHC:33766 WP No. 20147 of 2026 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 6TH DAY OF JULY, 2026 BEFORE THE HON'BLE MR. JUSTICE M.NAGAPRASANNA WRIT PETITION NO. 20147 OF 2026 (GM-RES) BETWEEN: 1. M/S KROYANA SPECIAL SITUATIONS FUND SEBI- REGISTERED ALTERNATE INVESTMENT, HAVING REGISTERED OFFICE AT 299, 1ST FLOOR, AMARJYOTI LAYOUT, DOMLUR, BENGALURU - 560 071. REPRESENTED BY ITS AUTHORISED SIGNATORY MR.NAJEEB AHMED. 2. ANA CAPITAL ADVISORS PRIVATE LIMITED INVESTMENT ADVISORY ARM OF ANA ANR PRIVATE LIMITED, HAVING REGISTERED OFFICE AT 299, 1ST FLOOR, AMARJYOTI LAYOUT, DOMLUR, BENGALURU - 560 071. REPRESENTED BY ITS DESIGNATED PARTNER MR.NAJEEB AHMED. …PETITIONERS (BY SMT. NAYANA TARA B.G., ADVOCATE) AND: 1. AUBERGINE PROPERTIES PRIVATE LIMITED, A PRIVATE LIMITED COMPANY, HAVING ITS REGISTERED OFFICE AT NO.11, G C ROAD, ULSOOR, BENGALURU - 560 042. REPRESENTED BY ITS MANAGING DIRECTOR DR. REDDAIAH MOLAKALA. Digitally signed by PADMAVATHI B K Location: High Court of Karnataka - 2 - HC-KAR NC: 2026:KHC:33766 WP No. 20147 of 2026 2. STATE OF KARNATAKA, BY HALSURU POLICE STATION, BENGALURU - 560008. …RESPONDENTS (BY SRI. SANDESH J CHOUTA, SENIOR COUNSEL FOR SRI. SRINANDAN K, ADVOCATE FOR R1 (NEW MANAGEMENT); SRI. LUDHVEENA K. LUTHRIA, ADVOCATE FOR R1 (ERSTWHILE MANAGEMENT); SMT. RASHMI PATEL, HCGP FOR R2) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 & 227 OF THE CONSTITUTION OF INDIA READ WITH SECTION 528 OF THE BHARATIYA NAGARIK SURAKSHA SANHITA (BNSS) 2023 PRAYING TO ISSUE A WRIT OF CERTIORARI OR ANY OTHER APPROPRIATE WRIT, ORDER OR DIRECTION, QUASHING AND SETTING ASIDE P.C.R. NO. 18387/2025 PRODUCED AT ANNEXURE-U IN ITS ENTIRETY, TOGETHER WITH ALL PROCEEDINGS ARISING THEREFROM BEFORE THE IV ACJM, BENGALURU CITY IN SO FAR AS THESE PETITIONERS ARE CONCERNED AND ETC. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE M.NAGAPRASANNA ORAL ORDER The petitioners are before the Court calling in question the registration of a private complaint in P.C.R.No.18387/2025 and the matter being referred for investigation under Section 175(3) of the BNSS, 2023. - 3 - HC-KAR NC: 2026:KHC:33766 WP No. 20147 of 2026 2. Heard Smt. Nayana Tara B.G., learned counsel appearing for the petitioners, Sri. Sandesh J Chouta, learned senior counsel for Sri. Srinandan K, learned counsel appearing for the new management of the complainant - company and Sri. Ludhveena K. Luthria, representing the erstwhile management of the complainant - company, Smt. Rashmi Patel, learned High Court Government Pleader appearing for respondent No.2 and have perused the material on record. 3. The petitioner No.1 is a Category II SEBI-registered Alternative Investment Fund. The complainant-Company is said to have appointed Axis Trustee Services Limited as Debenture Trustee for the Debenture Holders, including petitioner No.1. herein. The complainant - Company is said to have approached the National Company Law Tribunal ('NCLT' for short) on certain grievances that could be projected before the NCLT. Before the NCLT, the proceedings get over. The management of the complainant - company gets changed in the interregnum. The new management of the very complainant - company represented by the learned senior counsel would now submit - 4 - HC-KAR NC: 2026:KHC:33766 WP No. 20147 of 2026 that the complainant - company is not interested in prosecuting the complaint that was filed in P.C.R.No.18387/2025. 4. The learned counsel, Sri. Ludhveena K. Luthria appearing for the erstwhile management of the company, which had registered the PCR, would submit that they are before the National Company Law Appellate Tribunal. Therefore, these proceedings must not be obliterated. The submission of the learned counsel would merit acceptance, if there was any individual as the complainant. The complainant is the company. The management of the company is now changed. The new management which has taken over the company does not want to pursue the private complaint. The submission is placed on record. 5. Learned counsel on record representing the new management of the complainant - company files an affidavit stating that the present management is not interested in prosecuting the petition against the petitioners. The affidavit reads as follows: "I, Dr. Reddaiah Molakala, Director and Authorised Signatory of Aubergine Properties Pvt Ltd., having its registered office at No. 11, GC Road, Ulsoor, Bangalore, - 5 - HC-KAR NC: 2026:KHC:33766 WP No. 20147 of 2026 Karnataka 560042, do hereby solemnly affirm and state on oath as follows: 1. I state that, I am the Director of Respondent No.1 Company, Aubergine Properties Private Limited, and have been duly appointed pursuant to the Shareholders Resolution dated 24.10.2025. I am duly authorised to swear to this affidavit on behalf of the Company and am well acquainted with the facts and circumstances of the present case. 2. I state that the present management has assumed charge of the affairs of Aubergine Properties Private Limited pursuant to the change in management effected in accordance with law. After assuming office, the present management has undertaken a comprehensive review of the affairs of the Company, including the legal proceedings initiated by the erstwhile management. 3. I state that, upon such review, the present management noticed that PCR No.18387/2025 had been instituted before the jurisdictional learned Magistrate by the erstwhile management of the Company, alleging commission of offences against the Petitioners herein. Pursuant thereto, the learned Magistrate was pleased to direct the jurisdictional Station House Officer to register a First Information Report and investigate the matter. 4. I respectfully state that the present management has independently examined the circumstances under which the said complaint came to be instituted and has deliberated upon the advisability of continuing the criminal proceedings initiated by the erstwhile management. 5. I state that, after due consideration, the Board of Directors and the present management have consciously resolved that the Company is not - 6 - HC-KAR NC: 2026:KHC:33766 WP No. 20147 of 2026 interested in prosecuting or pursuing any proceedings arising out of PCR No.18387/2025, or any consequential proceedings initiated pursuant thereto. 6. I state that, in furtherance of the aforesaid decision, I had addressed written instructions on behalf of the Company to the Company's counsel, clearly recording that the present management does not intend to pursue the proceedings initiated by the erstwhile management and that the Company has no objection to the relief sought by the petitioners in the above writ petitions challenging the order passed by the learned Magistrate directing registration of the FIR. 7. I state that this affidavit is filed bona fide, in compliance with the directions issued by this Hon'ble Court and in order to place on record the stand of the present management of Aubergine Properties Private Limited." 6. In the light of the said circumstance, permitting further investigation into the matter, which the complainant - company itself does not want to prosecute, the private complaint would become unnecessary. 7. For the aforesaid reasons, the following: O R D E R [I] Writ Petition is disposed. - 7 - HC-KAR NC: 2026:KHC:33766 WP No. 20147 of 2026 [II] Proceedings in P.C.R.No.18387/2025 pending before the IV ACJM, Bengaluru City, together with all proceedings arising therefrom is quashed qua the petitioners. [III] Impugned Order dated 23.04.2026 passed by the IV Addl. Chief Judicial Magistrate, Bengaluru City, referring the matter for investigation to SHO, Halasuru Police Station under Section 175(3) of BNSS, 2023, is quashed qua the petitioners Sd/- (M.NAGAPRASANNA) JUDGE CBC List No.: 2 Sl No.: 198