- 1 - HC-KAR NC: 2026:KHC:6695 WP No. 1108 of 2026 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 3RD DAY OF FEBRUARY, 2026 BEFORE THE HON'BLE MR. JUSTICE ASHOK S.KINAGI WRIT PETITION NO. 1108 OF 2026 (GM-DRT) BETWEEN: M/S TAPOVAN PROJECTS A PARTNERSHIP FIRM R/AT NO 7/A, A BLOCK, VASU LAYOUT, DATTAGALLI MYSORE - 570022 REPRESENTED BY ITS PARTNER …PETITIONER (BY SRI. S. SRIRANGA, SR. ADVOCATE FOR SMT. SUMANA NAGANAND., ADVOCATE) AND: 1. STATE BANK OF INDIA A COMPANY INCORPORATED UNDER THE COMPANIES ACT 2013 HAVING ITS BRANCH OFFICE AT JAYALAKSHMIPURAM 3RD BLOCK, MYSURU - 570012 REPRESENTED BY ITS CHIEF MANAGER 2. STATE BANK OF INDIA STRESSED ASSET MANAGEMENT BRANCH - 4209 BENGALURU - 560001 REPRESENTED BY ITS AUTHORIZED OFFICER Digitally signed by SUNITHA K S Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:6695 WP No. 1108 of 2026 3. RESERVE BANK OF INDIA 10/3/8, NRUPATHUNGA ROAD, BENGALURU - 560001 REPRESENTED BY ITS GOVERNOR …RESPONDENTS (BY SRI. FRANCIS XAVIER., ADVOCATE FOR R1 & R2) THIS WRIT PETITION IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE SALE NOTICE DATED 21.11.2025 HOLDING THE AUCTION ON 11.12.2025 (ANNEXURE M ) B. DECLARE THAT THE AUCTION OF SCHEDULE PROPERTY HELD ON 21.11.2025 IS NULL AND BAD IN LAW C. ISSUE A WRIT OF MANDAMUS OR ANY OTHER WRIT, ORDER, OR DIRECTION TO CONSIDER THE REPRESENTATION ISSUED BY PETITIONER ON 26.12.2025 (ANNEXURE N). D. DECLARE THAT RESPONDENT NO.1’S ACTION IN INITIATING SARFAESI PROCEEDINGS AGAINST PETITIONER IS ARBITRARY AND WITHOUT JURISDICTION. E. DECLARE THAT THE ACTION OF RESPONDENT NO.1 IN DECLARING PETITIONER’S ACCOUNT AS A NON-PERFORMING ASSET IS IN VIOLATION OF RBI S PRUDENTIAL NORMS OF INCOME RECOGNITION, ASSET CLASSIFICATION AND PROVISIONING-PERTAINING TO ADVANCES DATED 01.07.2014. F. DECLARE THAT THE ACTION OF RESPONDENT NO.1 IN DECLARING PETITIONER’S ACCOUNT AS A NON- PERFORMING ASSET IS IN VIOLATION OF RBI NOTIFICATION DATED 29.05.2015 - FRAMEWORK FOR REVIVAL AND REHABILITATION OF MICRO, SMALL AND MEDIUM ENTERPRISES. G. PASS ANY SUCH OTHER OR FURTHER ORDERS AS THIS HON’BLE COURT DEEMS FIT, JUST, AND APPROPRIATE IN THE FACTS AND CIRCUMSTANCES OF THE PRESENT CASE, IN THE INTERESTS OF JUSTICE. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: ****** - 3 - HC-KAR NC: 2026:KHC:6695 WP No. 1108 of 2026 CORAM: HON'BLE MR. JUSTICE ASHOK S.KINAGI ORAL ORDER The petitioner filed this writ petition seeking the following reliefs: a. Issue a writ of certiorari or any other writ, order, or direction quashing the sale notice dated 21.11.2025 holding the auction on 11.12.2025 (Annexure 'M'); b. Declare that the auction of schedule property held on 21.11.2025 is null and bad in law; c. Issue a writ of mandamus or any other writ, order, or direction to consider the representation issued by Petitioner on 26.12.2025 (Annexure N); d. Declare that Respondent No.1's action in initiating SARFAESI proceedings against Petitioner is arbitrary and without jurisdiction; e. Declare that the action of Respondent No.1 in declaring Petitioner's account as a Non-Performing Asset is in violation of RBI's prudential norms of income recognition, asset classification and provisioning-pertaining to advances" dated 01.07.2014; f. Declare that the action of Respondent No.1 in declaring Petitioner's account as a Non-Performing - 4 - HC-KAR NC: 2026:KHC:6695 WP No. 1108 of 2026 Asset is in violation of RBI Notification dated 29.05.2015 - "Framework for Revival and Rehabilitation of Micro, Small and Medium Enterprises; g. Pass any such other or further orders as this Hon'ble Court deems fit, just, and appropriate in the facts and circumstances of the present case, in the interests of justice. 2. The petitioner has challenged the sale notice dated 21.11.2025 for holding the auction on 11.12.2025 also that auction of schedule property held on 21.11.2025 to be declared as null and bad in law and also a mandamus to consider the representation dated 26.12.2025 vide Annexure-N given under Section 13(8) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 regarding credit facility granted by respondent Nos.1 and 2-Bank to the petitioner. 3. The reliefs sought by the petitioner in prayers (a) and (b) are appealable orders. The petitioners, - 5 - HC-KAR NC: 2026:KHC:6695 WP No. 1108 of 2026 without exhausting the equal efficacious remedy, filed this writ petition. The writ petition is not maintainable in view of the proposition of law laid down by the Hon’ble Apex Court in the case of Rikhab Chand Jain Vs. Union of India and Others1. Hence, I do not find any grounds to entertain the writ petition. 4. Insofar as prayer (c) is concerned, learned counsel for respondent Nos.1 and 2 submits that, if reasonable time is granted, the respondents will consider the representation submitted by the petitioner vide Annexure-N and would pass an appropriate order in accordance with law. 5. In view of the above discussion, I proceed to pass the following: ORDER i. The writ petition is disposed of; 1 2025 SCC OnLine SC 2510 - 6 - HC-KAR NC: 2026:KHC:6695 WP No. 1108 of 2026 ii. The respondents are directed to consider the representation dated 26.12.2025 and to pass an appropriate order in accordance with law within 2 weeks from today; iii. A liberty is reserved to the petitioner to challenge the sale notice and auction of schedule property before the appropriate forum, if so advised, within 30 days from today; iv. In the meanwhile, the respondents are directed not to take any coercive steps for a period of 30 days from today; v. Pending IA(s), if any, shall stand disposed of. Sd/- (ASHOK S.KINAGI) JUDGE PA CT:KHV List No.: 1 Sl No.: 16