- 1 - HC-KAR CNR: KAHC010395912021 NC: 2026:KHC:48284 WP No. 19437 of 2021 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 7TH DAY OF SEPTEMBER, 2026 BEFORE THE HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM WRIT PETITION NO. 19437 OF 2021 (GM-RES) BETWEEN: 1. SRI G.D. CHANDRAMOULI REDDY AGED 50 YEARS NO.191, SAPTHA SINDU NILAYA G BLOCK, 10TH CROSS 20TH MAIN, SAHAKARANAGARA BANGALORE-560092. …PETITIONER (BY SRI. V. MOHAN, ADVOCATE) AND: 1. AUTHORISED OFFICER SREE SUBRAMANYESHWARA CO OPERATIVE BANK LTD RAJATHA BHAVANA, NO.106 R V ROAD, V V PURAM BANGALORE-560004. 2. THE JOINT REGISTRAR URBAN BANKS CELL OFFICE OF THE REGISTRAR OF CO OPERATIVE SOCIETIES, NO.1 ALI ASKER ROAD BANGALORE-560052. …RESPONDENTS (BY SRI. VENKATARAMANA .K.S, ADVOCATE FOR R1) Digitally signed by CHAITHRA A Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR CNR: KAHC010395912021 NC: 2026:KHC:48284 WP No. 19437 of 2021 THIS W.P. IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE R-1 PROCEEDINGS INITIATED U/S14 OF SARFAESI ACT BEFORE THE CHIEF METROPOLITAN MAGISTRATE, BANGALORE (ANNX- A) VIDE CRL.MISC.PETITION NO.2377/2020 IN RESPECT OF THE SCHEDULE PROPERTY IN THE INTEREST OF JUSTICE. THIS PETITION, COMING ON FOR PRELIMINARY HEARING 'B' GROUP, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM ORAL ORDER The captioned writ petition is filed assailing the action contemplated by the secured Creditor under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 ('SARFAESI Act’). 2. It is now well settled by a catena of decisions of the Hon’ble Supreme Court, consistently followed by this Court, that measures initiated by a secured creditor under the provisions of the SARFAESI Act are not ordinarily amenable to the extraordinary jurisdiction of this Court under Article 226 of the Constitution of India, particularly when the statute provides an efficacious alternative - 3 - HC-KAR CNR: KAHC010395912021 NC: 2026:KHC:48284 WP No. 19437 of 2021 remedy before the jurisdictional Debts Recovery Tribunal. The Hon’ble Supreme Court has repeatedly cautioned the High Courts against entertaining writ petitions in matters arising under the SARFAESI Act except in exceptional circumstances. 3. Learned counsel appearing for the Bank, on instructions, submits that the petitioner has paid the entire amount due in respect of one account and has closed the said account. The recovery proceedings pertaining to the remaining account are yet to be enforced. He would also point out that the petitioner has already sought a one-time settlement and that the said application is pending consideration before the Bank. Recording the said submission, the writ petition stands disposed of, directing the respondent-Bank to consider and decide the one-time settlement application and, thereafter, proceed against the petitioner by invoking the provisions of the SARFAESI Act, or the provisions of - 4 - HC-KAR CNR: KAHC010395912021 NC: 2026:KHC:48284 WP No. 19437 of 2021 the Karnataka Co-operative Societies Act, 1959, as may be permissible in law. Sd/- (SACHIN SHANKAR MAGADUM) JUDGE NBM List No.: 1 Sl No.: 17