- 1 - HC-KAR CNR: KAHC010567092026 NC: 2026:KHC:47799-DB MFA No. 5993 of 2026 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 2ND DAY OF SEPTEMBER, 2026 PRESENT THE HON'BLE MRS. JUSTICE ANU SIVARAMAN AND THE HON'BLE MR. JUSTICE T.P.VIVEKANANDA MISCELLANEOUS FIRST APPEAL NO.5993 OF 2026 (SFC) BETWEEN: KARNATAKA STATE FINANCIAL CORPORATION NO.1/1 THIMMAIAH ROAD, NEAR CANTONMENT RAILWAY STATION BANGALORE-560052. REPRESENTED BY ITS MANAGER (RECOVERY). A.R. DEPARTMENT. …APPELLANT (BY SRI. P S MALIPATIL, ADVOCATE) AND: 1. M/S GSM FORGE AND THREADS PRIVATE LIMITED NO.376, 15TH MAIN ROAD MC LAYOUT, VIJAYANAGAR, BANGALORE-560040. REPRESENTED BY ITS MANAGING DIRECTOR. 2. SRI SHEKAR G SASALATTI S/O G B SASALATTI MAJOR, R/AT NO.3, SAMTHRUPTHI AMARAJYOTHINAGAR WARD NO.37, OPP. SHOBA NURSING HOME MOODALAPALYA ROAD VIJAYANAGAR, BANGALORE-560040. Digitally signed by RAKSHA Location: High Court of Karnataka - 2 - HC-KAR CNR: KAHC010567092026 NC: 2026:KHC:47799-DB MFA No. 5993 of 2026 3. SRI. MURALI N S/O NANJAPPA MAJOR, C/O M/S IWAC INDUSTRY, SHED NO.395, NH7, HOSUR ROAD, CHANDAPUR, BANGALORE-560081. 4. SRI. B.K. SREEDHAR MURTHY S/O B S KRISHNAMURTHY MAJOR, R/AT NO.953, 27TH A MAIN 9TH BLOCK JAYANAGAR, BANGALORE-560069 5. SRI D R I GUPTA S/O D SATHYANARAYANA MAJOR, NO.146/19, OLD POLICE STATION ROAD MADIWALS, BANGALORE-560068 6. SRI Y SHIVASHANKAR REDDY S/O VENKATA REDDY MAJOR, R/AT NO.14, VENKATALAXMI NILAYA 4TH CROSS, BHAGIRATHINAGAR NEAR SYNDICATE BANK COLONY BANASHANKARI III STAGE IV PHASE, BANGALORE-560085 7. SMT. SHIVALEELA SHEKAR SASALATTI W/O SHEKAR G SASALATTI MAJOR, R/AT NO.3, SAMTHRUPTHI, AMARAJYOTHINAGAR MOODALAPALYA ROAD VIJAYANAGAR BANGALORE-560040. …RESPONDENTS THIS MFA IS FILED U/S 32(9) OF THE STATE FINANCIAL ACT, 1951, AGAINST THE ORDER DATED 28.03.2026 PASSED IN COM. MISC.NO. 91/2023 ON THE FILE OF THE LXXXII - 3 - HC-KAR CNR: KAHC010567092026 NC: 2026:KHC:47799-DB MFA No. 5993 of 2026 ADDITIONAL CITY CIVIL AND SESSIONS JUDGE, COMMERCIAL COURT, BENGALURU (CCH-83), DISMISSING THE PETITION FILED UNDER SECTION 13(1)(aa) AND SECTION 32 OF THE STATE FINANCIAL CORPORATION ACT. THIS APPEAL, COMING ON FOR ORDERS, THIS DAY, JUDGMENT WAS DELIVERED THEREIN AS UNDER: CORAM: HON'BLE MRS. JUSTICE ANU SIVARAMAN and HON'BLE MR. JUSTICE T.P.VIVEKANANDA ORAL JUDGMENT (PER: HON'BLE MRS. JUSTICE ANU SIVARAMAN) Heard the learned counsel appearing for the appellant. 2. Learned counsel appearing for the appellant submits that the appeal is one preferred under Section 32(9) of the State Financial Corporations Act, 1951 and that the same is maintainable as a Commercial Appeal. 3. In view of the fact that the appeal arises from an order passed by the City Civil and Sessions Judge, Commercial Court, Bengaluru, the request made by the learned counsel for the appellant is accepted. - 4 - HC-KAR CNR: KAHC010567092026 NC: 2026:KHC:47799-DB MFA No. 5993 of 2026 4. Registry shall re-number the appeal as a Commercial Appeal. Accordingly, Miscellaneous First Appeal is disposed of for statistical purpose. Sd/- (ANU SIVARAMAN) JUDGE Sd/- (T.P.VIVEKANANDA) JUDGE RAK, List No.: 1 Sl No.: 23