- 1 - HC-KAR CNR: KAHC010453532022 NC: 2026:KHC:50003 WP No. 19742 of 2022 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 15TH DAY OF SEPTEMBER, 2026 BEFORE THE HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM WRIT PETITION NO. 19742 OF 2022 (GM-DRT) BETWEEN: 1. M/S VINAYAKA HANDICRAFTS REP BY A SOLE PROPRIETOR MR. V HARISH, S/O ARUNAGIRI ACHAR R/AT NO. 11, MARUTHI LAYOUT, MARUGUNDANAHALLI, ANANDAPURA BENGALURU 560 036. 2. MR. HARISH S/O ARUNAGIRI ACHAR, AGED ABOUT 39 YEARS PROP. M/S VINAYAKA HANDICRAFTS 3. MRS V. POORNIMA W/O V HARISH BOTH ARE R/AT NO. 364, BOOMI REDDY LAYOUT, 4th A CROSS, AYYAPPA TEMPLE BACKSIDE NEW THIPPASANDRA BEGNALURU 5600075 …PETITIONERS (BY SRI. DHANANJAY .B.C, ADVOCATE) AND: 1. AUTHORISED OFFICER THE INDIAN BANK Digitally Signed By: SACHIN SHANKAR MAGADUM Verified Digitally signed by AL BHAGYA Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR CNR: KAHC010453532022 NC: 2026:KHC:50003 WP No. 19742 of 2022 MANAGER NO.10, 1st FLOOR, INDIAN BANK BUILDINGS, K.G. ROAD, BENGALURU 560009. 2. THE REGIONAL DIRECTOR FOR KARNATAKA RESERVE BANK OF INDIA 10/3/8, NRUPATHUNGA ROAD, POST BAG NO. 5467 BENGALURU 560 001. …RESPONDENTS (BY SRI. NAIK ASHOK KASHINATH, ADVOCATE FOR R1) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE NOTICE OF INTENDED SALE DATED 13.10.2022 ISSUED BY THE RESPONDENT BANK VIDE ANNEXURE-A UNDER RULE 6(2) AND 8(6) OF THE SECURITY INTEREST (ENFORCEMENT RULES) 2002 UNDER THE SECURITIZATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002 IS EXCESSIVE, ILLEGAL AND UNSUSTAINABLE AND SET ASIDE BY ISSUING THE WRIT IN THE NATURE OF CERTIORARI; AND ETC. THIS PETITION, COMING ON FOR FINAL 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 questioning the sale notice dated 13.10.2022 issued by the respondent - Bank under Rule 6(2) and 8(6) of the Security Interest (Enforcement Rules) 2002 under the Securitization and Digitally Signed By: SACHIN SHANKAR MAGADUM Verified - 3 - HC-KAR CNR: KAHC010453532022 NC: 2026:KHC:50003 WP No. 19742 of 2022 Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002. 2. Though this Court, having regard to the authoritative pronouncements of the Hon’ble Apex Court holding that this Court ought not to entertain proceedings questioning measures initiated by a secured creditor under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, was not inclined to examine the grievance of the petitioners on merits, a limited interim protection came to be granted subject to certain conditions. 3. Learned counsel appearing for the respondent- Bank submits that the petitioners have only partially complied with the conditions stipulated in the interim order dated 29.09.2022. He would further submit that the said order expressly provided that, in the event of failure on the part of the petitioners to deposit the amount stipulated Digitally Signed By: SACHIN SHANKAR MAGADUM Verified - 4 - HC-KAR CNR: KAHC010453532022 NC: 2026:KHC:50003 WP No. 19742 of 2022 therein, the interim order would stand vacated automatically. 4. It is not in dispute that this Court, by order dated 01.03.2023, recorded the non-compliance of the conditions imposed under the interim order and consequently held that the interim order dated 29.09.2022 stood vacated, while reserving liberty to the petitioners to seek restoration of the interim protection upon complying with the conditions stipulated therein. 5. Today, learned counsel appearing for the petitioners is stated to be unwell and the learned proxy counsel seeks an accommodation. Having regard to the fact that the interim order stood vacated as long back as on 01.03.2023 on account of non-compliance, this Court is not inclined to grant further indulgence merely on the ground of non-availability of the learned counsel on record. Digitally Signed By: SACHIN SHANKAR MAGADUM Verified - 5 - HC-KAR CNR: KAHC010453532022 NC: 2026:KHC:50003 WP No. 19742 of 2022 6. In the absence of compliance with the conditions imposed by this Court and in view of the interim order having already stood vacated, no further consideration survives in the present proceedings. The petitioners have also not demonstrated any circumstance warranting interference with the measures initiated by the respondent-Bank under the provisions of the SARFAESI Act. For the foregoing reasons, the writ petition, being devoid of merit, stands dismissed. (SACHIN SHANKAR MAGADUM) JUDGE NBM List No.: 1 Sl No.: 7 Digitally Signed By: SACHIN SHANKAR MAGADUM Verified