- 1 - HC-KAR CNR: KAHC010457252022 NC: 2026:KHC:50102 WP No. 19857 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. 19857 OF 2022 (GM-DRT) BETWEEN: 1. MR. PRAKASH SHETTY S/O KOLLUR SURENDRA SHETTY AGE ABOUT 46 YEARS RESIDING AT NO 1-34 PADUETTU HOUSE, THODAR VILLAGE MIJAR POST, MANGALURU TALUK DAKSHINA KANNADA DISTRICT - 574225 …PETITIONER (BY SRI. SHETTY VIGNESH SHIVARAM, ADVOCATE) AND: 1. THE AUTHORIZED OFFICER BHARAT CO OPERATIVE BANK (MUMBAI) LTD VASUKI TOWER, NEXT TO VISHWAS COMMERCIAL BUILDING NEAR TALUK OFFICE, OPP DISTRICT COURT UDUPI - 576101 REP BY ITS CHIEF MANAGER AND AUTHORIZED OFFICER SHRI MURALIDHAR KOTIAN AGED ABOUT 46 YEARS …RESPONDENT (BY SRI. PUNDIKAI ISHWARA BHAT, ADVOCATE) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO QUASH THE IMPUGNED ORDER DATED 07.09.2022 PASSED BY THE Digitally Signed By: SACHIN SHANKAR MAGADUM Verified Digitally signed by AL BHAGYA Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR CNR: KAHC010457252022 NC: 2026:KHC:50102 WP No. 19857 of 2022 PRINCIPAL SENIOR CIVIL JUDGE AND CHIEF JUDICIAL MAGISTRATE AT UDUPI, UDUPI DISTRICT IN C.MIS.NO.146/2022 AS PER ANNEXURE-A; AND ETC. 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 Captioned petition is filed by the borrower assailing the order of the Court passed under Section 14 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short "SARFAESI Act"), to take possession of the petition property. 2. This Court, vide order dated 30.09.2022 had granted interim order subject to deposit of Rs.22,00,000(Rupees Twenty Two Lakh Only). The records reveal that petitioner has made some deposits and the entire recovery proceedings initiated by the secured creditor under the provisions of SARFAESI Act is virtually stalled since 2022. Since some deposits are made, liberty Digitally Signed By: SACHIN SHANKAR MAGADUM Verified - 3 - HC-KAR CNR: KAHC010457252022 NC: 2026:KHC:50102 WP No. 19857 of 2022 is reserved to respondent/bank to initiate fresh proceedings as provided under the provisions of SARFAESI Act, if petitioner has not made any efforts to pay the balance dues. With the above observation, the writ petition stands disposed of. (SACHIN SHANKAR MAGADUM) JUDGE ALB List No.: 1 Sl No.: 34 Digitally Signed By: SACHIN SHANKAR MAGADUM Verified