- 1 - HC-KAR NC: 2026:KHC:3894 WP No. 13230 of 2025 C/W WP No. 12691 of 2025 WP No. 16355 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 23RD DAY OF JANUARY, 2026 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 13230 OF 2025 (GM-RES) C/W WRIT PETITION NO. 12691 OF 2025 (GM-RES) WRIT PETITION NO. 16355 OF 2025 (GM-RES) IN WP No. 13230/2025 BETWEEN: NORTHROOF VENTURES PRIVATE LIMITED FORMERLY KNOWN AS NITESH HOUSING DEVELOPERS PVT. LTD. A COMPANY INCORPORATED UNDER THE PROVISIONS OF THE COMPANIES ACT, 1956. HAVING ITS REGISTERED OFFICE AT NO. 1/B, FIRST FLOOR, NO.41, CASTLE STREET, OPPOSITE SACRED HEART CHURCH, RICHMOND ROAD, ASHOK NAGAR RICHMOND TOWN, BANGALORE-560 025 REPRESENTED BY ITS AUTHORIZED SIGNATORY SRI. K.B. SWAMY …PETITIONER (BY SMT. SUMANA NAGANAND.,ADVOCATE) Digitally signed by VANAMALA N Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:3894 WP No. 13230 of 2025 C/W WP No. 12691 of 2025 WP No. 16355 of 2025 AND: 1. RESERVE BANK OF INDIA 4TH FLOOR, RBI BYCULLA OFFICE BUILDING, OPP. MUMBAI CENTRAL RAILWAY STATION, BYCULLA, MUMBAI-400008 REPRESENTED BY ITS GOVERNOR. 2. RESERVE BANK OF INDIA, HAVING ITS REGIONAL OFFICE AT 10/3/8, NRUPUTHUNGA ROAD, P.B 5467, BENGALURU-560001 REPRESENTED BY ITS GENERAL MANAGER. 3. M/S. YES BANK LTD., A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT YES BANK HOUSE, OFF WESTERN EXPRESS HIGHWAY SANATACRUZ EAST, MUMBAI -400055 REPRESENTED BY ITS CHIEF VIGILANCE OFFICER, SRI. BINU SOMAN. 4. J.C FLOWERS ASSET RECONSTRUCTION PVT. LTD., COMPANY REGISTERED UNDER COMPANIES ACT, 1956 12TH FLOOR, CROMPTON GREAVES HOUSE, DR. ANNIE BESANT ROAD, WORLI, MUMBAI-400030 - 3 - HC-KAR NC: 2026:KHC:3894 WP No. 13230 of 2025 C/W WP No. 12691 of 2025 WP No. 16355 of 2025 REPRESENTED BY ITS MANAGING DIRECTOR. …RESPONDENTS (BY SRI. MANIK B T., ADVOCATE FOR R1 AND R2; SRI. PINAZ MEHTA., ADVOCATE FOR R4) THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO A. QUASHING THE SHOW CAUSE NOTICE DATED 27.03.2025 BEARING NO. NHDPL/VIG/24-25/NHDPL- 001 ISSUED BY RESPONDENT NO. 3 TO THE PETITIONER (ANNEXURE Q); B. DECLARING THE ACTIONS OF RESPONDENT NO. 3 IN SEEKING TO PROCEED DE NOVO AGAINST THE PETITIONER AS ILLEGAL AND WHOLLY WITHOUT JURISDICTION. IN WP NO. 12691/2025 BETWEEN: NITESH RESIDENCY HOTELS PRIVATE LIMITED A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT LEVEL 4, B WING, THE RITZ CARLTON HOTEL, 99 RESIDENCY ROAD, BENGALURU-560025 REPRESENTED HEREIN BY ITS AUTHORIZED SIGNATORY, SRI. K.B. SWAMY ...PETITIONER (BY SMT. SUMANA NAGANAND.,ADVOCATE) - 4 - HC-KAR NC: 2026:KHC:3894 WP No. 13230 of 2025 C/W WP No. 12691 of 2025 WP No. 16355 of 2025 AND: 1. RESERVE BANK OF INDIA 4TH FLOOR, RBI BY CULLA OFFICE BUILDING, OPP. MUMBAI CENTRAL RAILWAY STATION, BYCULLA, MUMBAI-400008 REPRESENTED BY ITS GOVERNOR. 2. RESERVE BANK OF INDIA, HAVING ITS REGIONAL OFFICE AT 10/3/8, NRUPUTHUNGA ROAD, P.B 5467, BENGALURU-560001 REPRESENTED BY ITS GENERAL MANAGER. 3. M/S. YES BANK LTD., A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT YES BANK HOUSE, OFF WESTERN EXPRESS HIGHWAY SANATACRUZ EAST, MUMBAI-400055 REPRESENTED BY ITS CHIEF VIGILANCE OFFICER, SRI. BINU SOMAN. 4. M/S. J.C FLOWERS ASSET RECONSTRUCTION PVT. LTD., A COMPANY REGISTERED UNDER THE COMPANIES ACT, 2013 HAVING ITS REGISTERED OFFICE AT 12TH FLOOR, CROMPTON GREAVES HOUSE, - 5 - HC-KAR NC: 2026:KHC:3894 WP No. 13230 of 2025 C/W WP No. 12691 of 2025 WP No. 16355 of 2025 DR. ANNIE BESANT ROAD, WORLI, MUMBAI-400030 REPRESENTED BY ITS MANAGING DIRECTOR ...RESPONDENTS (BY SRI. MANIK B T.,ADVOCATE FOR R1 AND R2; SRI. PINAZ MEHTA., ADVOCATE FOR R4) THIS WP IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA PRAYING TO QUASHING THE SHOW CAUSE NOTICE DATED 27.03.2025 BEARING NO. NRHPL/VIG 2024-25 (NRHPC-001) ISSUED BY RESPONDENT NO.3 TO THE PETITIONER (ANNEXRUE- R); DECLARING THE ACTIONS OF RESPONDENT NO-3 IN SEEKING TO PROCEED DE NOVO AGAINST THE PETITIONER AS ILLEGAL AND WHOLLY WITHOUT JURISDICTION. IN WP NO. 16355/2025 BETWEEN: MARATHALLI VENTURES PRIVATE LIMITED FORMERLY KNOWN AS NITESH URBAN DEVELOPMENT PVT. LTD. A COMPANY INCORPORATED UNDER THE PROVISIONS OF THE COMPANIES ACT, 1956, HAVING ITS REGISTERED OFFICE AT NO 15/45, LEVEL 1A, 4TH CROSS, CAMBRIDGE ROAD, HALASURU, BENGALURU-560008 - 6 - HC-KAR NC: 2026:KHC:3894 WP No. 13230 of 2025 C/W WP No. 12691 of 2025 WP No. 16355 of 2025 REPRESENTED BY ITS AUTHORIZED SIGNATORY SRI. K.B. SWAMY ...PETITIONER (BY SMT. SUMANA NAGANAND.,ADVOCATE) AND: 1. RESERVE BANK OF INDIA 4TH FLOOR, RBI BYCULLA OFFICE BUILDING, OPP. MUMBAI CENTRAL RAILWAY STATION, BYCULLA, MUMBAI-400008 REPRESENTED BY ITS GOVERNOR. 2. RESERVE BANK OF INDIA, HAVING ITS REGIONAL OFFICE AT 10/3/8, NRUPUTHUNGA ROAD, P.B 5467, BENGALURU-560001 REPRESENTED BY ITS GENERAL MANAGER. 3. M/S. YES BANK LTD., A COMPANY REGISTERED UNDER THE COMPANIES ACT, 1956 HAVING ITS REGISTERED OFFICE AT YES BANK HOUSE, OFF WESTERN EXPRESS HIGHWAY SANATACRUZ EAST, MUMBAI -400055 REPRESENTED BY ITS CHIEF VIGILANCE OFFICER, SRI. BINU SOMAN. - 7 - HC-KAR NC: 2026:KHC:3894 WP No. 13230 of 2025 C/W WP No. 12691 of 2025 WP No. 16355 of 2025 4. J.C FLOWERS ASSET RECONSTRUCTION PVT. LTD., 12TH FLOOR, CROMPTON GREAVES HOUSE, DR. ANNIE BESANT ROAD, WORLI, MUMBAI-400030 REPRESENTED BY ITS MANAGING DIRECTOR. ...RESPONDENTS (BY SRI. MANIK B T.,ADVOCATE FOR R1 AND R2; SRI. PINAZ MEHTA., ADVOCATE FOR R4) THIS W.P. IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE SHOW CAUSE NOTICE DATED 27.03.2025 ISSUED BY RESPONDENT NO. 3 TO THE PETITIONER (ANNEXURE-P); DECLARE THE ACTIONS OF RESPONDENT NO. 3 IN SEEKING TO PROCEED DE NOVO AGAINST THE PETITIONER AS ILLEGAL AND WHOLLY WITHOUT JURISDICTION. THESE PETITIONS, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD - 8 - HC-KAR NC: 2026:KHC:3894 WP No. 13230 of 2025 C/W WP No. 12691 of 2025 WP No. 16355 of 2025 ORAL ORDER Smt Sumana Naganand, the learned counsel for the petitioners, has filed a memo in each of these petitions stating that the petitions have become infructuous. The memo filed in the writ petition in W.P. No.13230/2025 reads as under: "1. The present writ petition has been filed by the petitioner seeking, inter alia to quash the show cause notice dated 27.03.2025 issued by Respondent No.3 to the petitioner, seeking to proceed de novo against the petitioner to classify the loan account of the petitioner as fraudulent. 2. During the pendency of the above writ petition, Respondent No.3 has issued letter dated 19.09.2025 stating that the case of the petitioner was put up to the Competent Committee which examined the facts of the case and concluded that the account of the petitioner to be classified as 'no fraud'. Copy of the letter dated 19.09.2025 issued by Respondent No.3 is produced herewith as Document No.1. 3. The Respondent No.3 vide its letter dated 19.09.2025, having declared the loan - 9 - HC-KAR NC: 2026:KHC:3894 WP No. 13230 of 2025 C/W WP No. 12691 of 2025 WP No. 16355 of 2025 account of the petitioner to be classified as 'no fraud', the present writ petition does not survive for consideration. Wherefore, it is respectfully prayed that this Hon'ble Court may be pleased to take this memo along with letter of Respondent No.3 dated 19.09.2025 on record, and dispose of the writ petition as infructuous, in the interest of the justice and equity." The memo filed in the writ petition in W.P. No.12691/2025 reads as under: "1. The present writ petition has been filed by the petitioner seeking, inter alia to quash the show cause notice dated 27.03.2025 issued by Respondent No.3 to the petitioner, seeking to proceed de novo against the petitioner to classify the loan account of the petitioner as fraudulent. 2. During the pendency of the above writ petition, Respondent No.3 has issued letter dated 19.09.2025 stating that the case of the petitioner was put up to the Competent Committee which examined the facts of the case and concluded that the account of the petitioner to be classified as 'no fraud'. Copy of the letter dated 19.09.2025 issued by Respondent No.3 is produced herewith as Document No.1. - 10 - HC-KAR NC: 2026:KHC:3894 WP No. 13230 of 2025 C/W WP No. 12691 of 2025 WP No. 16355 of 2025 3. The Respondent No.3 vide its letter dated 19.09.2025, having declared the loan account of the petitioner to be classified as 'no fraud', the present writ petition does not survive for consideration. Wherefore, it is respectfully prayed that this Hon'ble Court may be pleased to take this memo along with letter of Respondent No.3 dated 19.09.2025 on record, and dispose of the writ petition as infructuous, in the interest of the justice and equity." The memo filed in the writ petition in W.P. No.16355/2025 reads as under: "1. The present writ petition has been filed by the petitioner seeking, inter alia to quash the show cause notice dated 27.03.2025 issued by Respondent No.3 to the petitioner, seeking to proceed de novo against the petitioner to classify the loan account of the petitioner as fraudulent. 2. During the pendency of the above writ petition, Respondent No.3 has issued letter dated 19.09.2025 stating that the case of the petitioner was put up to the Competent Committee which examined the facts of the case and concluded that the account of the petitioner to be classified as 'no fraud'. Copy of the letter dated 19.09.2025 issued by Respondent No.3 is produced herewith as Document No.1. - 11 - HC-KAR NC: 2026:KHC:3894 WP No. 13230 of 2025 C/W WP No. 12691 of 2025 WP No. 16355 of 2025 3. The Respondent No.3 vide its letter dated 19.09.2025, having declared the loan account of the petitioner to be classified as 'no fraud', the present writ petition does not survive for consideration. Wherefore, it is respectfully prayed that this Hon'ble Court may be pleased to take this memo along with letter of Respondent No.3 dated 19.09.2025 on record, and dispose of the writ petition as infructuous, in the interest of the justice and equity." The memo filed in each of these petitions are taken on record, and the petitions stand disposed of accordingly. Sd/- (B M SHYAM PRASAD) JUDGE AN/-