- 1 - HC-KAR NC: 2026:KHC:3753 WP No. 30459 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 21ST DAY OF JANUARY, 2026 BEFORE THE HON'BLE MR. JUSTICE ASHOK S.KINAGI WRIT PETITION NO. 30459 OF 2025 (CS-RES) BETWEEN: AXIS BANK LIMITED HAVING OFFICE AT TRISHUL, OPP. SAMARTHESWAR TEMPLE, LAW GARDEN, ELLISBRIDGE, AHMEDABAD-380006. REPRESENTED BY ITS SENIOR MANAGER, ANUKTHI C SHETTY …PETITIONER (BY SRI. ANAND MUTTALLI., ADVOCATE) AND: 1. MANGALORE TEACHERS CO-OPERATIVE CREDIT SOCIETY LIMITED (REGISTERED UNDER KARNATAKA STATE COOPERATIVE ACT 1959 IN THE STATE OF KARNATAKA) HAVING ITS OFFICE AT MAXMUS BUILDING, BAVUTAGUDDA ROAD, MANGALORE-575004 REPRESENTED BY ITS PRESIDENT, MR. C PRABHAKAR SHETTY 2. VIJAYAPRASAD REDDY S/O VEERA REDDY, AGED ABOUT 48 YEARS, RESIDING AT 3/8, 4TH FLOOR, 5TH MAIN, 3RD CROSS, Digitally signed by KIRAN KUMAR R Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:3753 WP No. 30459 of 2025 JP NAGAR, 7TH PHASE, BENGALURU-560078. 3. KASTURI C V W/O VIJAYAPRASAD REDDY, AGED ABOUT 48 YEARS, RESIDING AT 3/8, 4TH FLOOR, 5TH MAIN, 3RD CROSS, JP NAGAR 7TH PHASE, BENGALURU-560078. 4. K. VEERA REDDY S/O LATE RAMACHANDRA REDDY, AGED MAJOR, RESIDING AT AKSHAYA, 35, 4TH FLOOR, 5TH MAIN, 3RD CROSS, JP NAGAR, 7TH PHASE, BENGALURU - 560078. …RESPONDENTS THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO SET ASIDE THE IMPUGNED AWARD ISSUED AND PASSED BY JOINT REGISTRAR OF CO-OPERATIVE SOCIETIES, MYSORE SUB- DIVISION, MYSORE DATED 19.11.2021 FOR THE LIKE SUM OF RS. 5,51,87,729/- ALONG WITH INTEREST AT THE RATE OF 17 PERCENT P.A. FROM 19.11.2021 ALONG WITH PENALTY INTEREST AT THE RATE OF 3 PERCENT P.A. FROM 19.11.2021 TILL REALIZATION AGAINST THE JUDGEMENT DEBTORS I.E. THE BORROWERS. THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 3 - HC-KAR NC: 2026:KHC:3753 WP No. 30459 of 2025 CORAM: HON'BLE MR. JUSTICE ASHOK S.KINAGI ORAL ORDER The petitioner, aggrieved by the award dated 29.11.2021 passed by the Joint Registrar of Co-operative Societies vide Annexure-A. 2. The petitioner has an equal efficacious remedy under the provisions of the Karnataka Co-operative Societies Act, 1959. 3. The Hon’ble Apex Court, in the case of Rikhab Chand Jain Vs. Union of India and Others1, held in paragraph No.15 as follows: “15. In our considered opinion, the appellant having had a remedy before the High Court in a separate jurisdiction which was equally efficacious, he indulged in the (mis) adventure of invoking its writ jurisdiction which was rightly not entertained.” 1 2025 SCC OnLine SC 2510 - 4 - HC-KAR NC: 2026:KHC:3753 WP No. 30459 of 2025 4. The petitioner, without exhausting the equal efficacious remedy, filed this petition. Hence, this writ petition is not maintainable. 5. Accordingly, the writ petition is dismissed reserving a liberty to the petitioner to exhaust equal efficacious remedy, if so advised. 6. In view of dismissal of the petition, pending IA(s), if any, shall stand disposed of accordingly. Sd/- (ASHOK S.KINAGI) JUDGE PA CT:KHV List No.: 2 Sl No.: 12