- 1 - HC-KAR CNR: KAHC010453452022 NC: 2026:KHC:48569 WP No. 19717 of 2022 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 8TH DAY OF SEPTEMBER, 2026 BEFORE THE HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM WRIT PETITION NO.19717 OF 2022 (GM-DRT) BETWEEN: 1. SRI. MUDHURAJU .N S/O SRI NANJUNDAPPA AGED ABOUT 47 YEARS R/AT 168, 3RD DIVISION SRI KANNIKA PARAMESHWARI TEMPLE ROAD BAGEPALLI (AT AND POST) CHIKKABALLAPURA DISTRICT. 2. SRI. NARASIMHA REDDY S/O LATE PEDDAREDDY AGED ABOUT 48 YEARS R/AT BEHIND COURT COMPLEX 21ST WARD, DVG ROAD BAGEPALLI TOWN AND TALUK 561201. …PETITIONERS (BY SRI. PRASHANTH .P.N, ADVOCATE) AND: 1. THE TUMKUR GRAIN MERCHANTS CO OPERATIVE BANK LTD ADMINISTRATIVE OFFICE B.H.ROAD, TUMKUR TALUK AND DISTRICT YELAHANKA BRANCH, KARNATAKA-560064. REPRESENTED BY AUTHORIZED OFFICER Digitally signed by CHAITHRA A Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR CNR: KAHC010453452022 NC: 2026:KHC:48569 WP No. 19717 of 2022 REG. UNDER CO-OP SOCEITY ACT, 1860 …RESPONDENT (BY SRI. LOKESH .K.V AND LAW VIBES, ADVOCATE) THIS W.P. FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE IMPUGNED ORDER BEARING NO. ITHARAVASULI/CR/87/19-20 DATED 10.2.2020 PASSED BY THE DEPUTY COMMISSIONER CHIKKABALLPAURA DISTRICT UNDER SECTION 14(2) OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002 PRODUCED HEREWITH AS ANNEXURE-C FOR BEING CAPRICIOUS, ILLEGAL AND BIASED AND FOR BEING PASSED WITHOUT FOLLOWING THE DUE PROCESS OF LAW AS CONTEMPLATED UNDER THE PROVISO OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2022 AND ETC. THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM ORAL ORDER The captioned writ petition is filed by the petitioner- borrower, who is a defaulting borrower, calling in question the action of the respondent-Secured Creditor undertaken under Section 14(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of - 3 - HC-KAR CNR: KAHC010453452022 NC: 2026:KHC:48569 WP No. 19717 of 2022 Security Interest Act, 2002 (for short, ‘SARFAESI Act, 2002’). 2. The Hon’ble Apex Court has repeatedly deprecated the practice of entertaining writ petitions by the High Courts challenging measures undertaken by the Secured Creditor under the provisions of the SARFAESI Act, 2002, particularly when an efficacious statutory remedy is available to the aggrieved party. 3. Be that as it may, in the facts and circumstances of the present case, pursuant to the interim order passed by this Court, the petitioner-borrower has deposited a substantial sum of Rs.25,00,000/- with the respondent- Bank. The said deposit is admitted by the learned counsel appearing for the respondent-Bank. 4. Learned counsel appearing for the respondent- Bank submits that, pursuant to the aforesaid deposit, possession of the secured asset has been re-delivered to the petitioner and that the petitioner is presently in - 4 - HC-KAR CNR: KAHC010453452022 NC: 2026:KHC:48569 WP No. 19717 of 2022 possession thereof. However, the grievance of the respondent-Bank is that, subsequent to depositing the sum of Rs.25,00,000/-, the petitioner has not taken any further steps towards clearing the outstanding dues as on date. 5. Per-contra, learned counsel appearing for the petitioner submits that the petitioner is ready and willing to clear the entire outstanding dues payable to the respondent-Bank. 6. In view of the aforesaid circumstances, particularly the fact that possession of the secured asset has already been re-delivered to the petitioner notwithstanding the measures contemplated under Section 14 of the SARFAESI Act, 2002, this Court is of the considered view that the petitioner may avail the opportunity to negotiate with the respondent-Bank and arrive at an appropriate arrangement for clearing the outstanding dues. - 5 - HC-KAR CNR: KAHC010453452022 NC: 2026:KHC:48569 WP No. 19717 of 2022 7. Accordingly, the petitioner is granted two weeks’ time from the date of receipt of a certified copy of this order to submit a fresh representation to the respondent- Bank setting out the proposed mode of payment and the timeline within which the outstanding dues would be cleared. 8. If such representation is submitted within the aforesaid period, the respondent-Bank shall consider the same and take an appropriate decision in accordance with law. 9. It is made clear that the aforesaid indulgence shall not preclude the respondent-Bank from initiating or pursuing fresh measures under the provisions of the SARFAESI Act, 2002, in accordance with law, in the event the petitioner fails to clear the outstanding dues or otherwise comply with the arrangement, if any, accepted by the respondent-Bank. - 6 - HC-KAR CNR: KAHC010453452022 NC: 2026:KHC:48569 WP No. 19717 of 2022 With the above observations and directions, the writ petition stands disposed of. Sd/- (SACHIN SHANKAR MAGADUM) JUDGE NBM List No.: 1 Sl No.: 6