- 1 - HC-KAR NC: 2026:KHC-D:566 WP No. 110055 of 2025 IN THE HIGH COURT OF KARNATAKA, AT DHARWAD DATED THIS THE 20TH DAY OF JANUARY, 2026 BEFORE THE HON'BLE SMT. JUSTICE LALITHA KANNEGANTI WRIT PETITION NO.110055 OF 2025 (GM-CPC) BETWEEN: 1. M/S. JAI MAHALAXMI QUALITY AAC BLOCKS, SY. NO.326/A AND 327, PLOT NO.149, KIADB, KANAGALE INDUSTRIAL AREA, HUKKERI TALUK, DIST. BELAGAVI, PIN-591225, REPRESENTED BY ITS PROPRIETOR, 2. SHRI. MOHAN KIRAN KAMBLE, AGED. MAJOR, OCC. BUSINESS, RESIDING AT H.NO.299, POST. NAVALIHAL, TAL. CHIKKODI, DIST. BELAGAVI, PIN-591287. …PETITIONERS (BY SRI. SURAJ S.MUTNAL, ADVOCATE) AND: 1. UNION BANK OF INDIA, KLS GOGTE COLLEGE BRANCH, RPD COLLEGE ROAD, RANADE COLONY, HINDWADI, BELAGAVI-590006, REPRESENTED BY ITS AUTHORIZED OFFICER. 2. THE REGIONAL OFFICE, UNION BANK OF INDIA, Digitally signed by YASHAVANT NARAYANKAR Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC-D:566 WP No. 110055 of 2025 OFFICE OF REGIONAL MANAGER, KHANAPUR ROAD, TILAKWADI, BELAGAVI, PIN-590006, REPRESENTED BY ITS AUTHORISED OFFICER, SHRI. ANAND LAXMAN KAMBLE. 3. SHRI. SANTHOSH YALLAPPA NAIK, AGED. 45 YEARS, OCC. BUSINESS, RESIDING AT H.NO.141, GANPAT GALLI, YAMANAPUR ROAD, BELAGAVI, TAL. AND DIST. BELAGAVI, PIN-590001. …RESPONDENTS (BY SRI. GIRISH S.HULMANI, ADVOCATE FOR R1 AND R2) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF CONSTITUTION OF INDIA, PRAYING TO ALLOW THE PETITION AND QUASH IMPUGNED ORDER PASSED BY I ADDL. SENIOR CIVIL JUDGE AND C.J.M AT BELAGAVI IN CRIMINAL MISCELLANEOUS NO.340/2025 DATED 15.12.2025 UNDER SECTION 14 OF SARFAESI ACT, 2002, CERTIFIED COPY OF WHICH IS PRODUCED AS ANNEXURE-A, AND ETC.,. THIS WRIT PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: THE HON'BLE SMT. JUSTICE LALITHA KANNEGANTI - 3 - HC-KAR NC: 2026:KHC-D:566 WP No. 110055 of 2025 ORAL ORDER The present writ petition is filed seeking the following prayer: “A. Quash impugned order passed by Hon’ble I Addl. Senior Civil Judge and C.J.M at Belagavi in Criminal Miscellaneous No.340/2025 dated 15.12.2025 under section 14 of SARFAESI Act, 2002, certified copy of which is produced as Annexure-A, and; B. Grant such other relief as this Hon’ble Court deems fit, in the interest of justice and equity.” 2. On 07.01.2026, the submission is made before this Court that, the petitioners are ready to pay the entire outstanding amount and in that regard, they will file an undertaking affidavit before this Court. Today, the undertaking affidavit is filed and the same is placed on record. According to the petitioners, the outstanding amount as on today is Rs.4,25,72,000/- and within a period of four months from today, they will pay the outstanding amount, failing which, the respondent-Bank is at liberty to initiate appropriate proceedings. 3. Learned counsel appearing for the respondent-Bank submits that, the outstanding amount is around 4,30,00,000/-. It is submitted that, if the petitioners fail to pay the outstanding - 4 - HC-KAR NC: 2026:KHC-D:566 WP No. 110055 of 2025 amount, they shall voluntarily give possession of the secured assets. 4. Learned counsel appearing for the petitioners submits that, in the event the petitioners fail to pay the outstanding amount, they shall hand over physical possession of the secured asset, already under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 has already been passed. 5. It is submitted that, respondent No.3 is the Guarantor and he is not a necessary party to this petition. He is a formal party. 6. Having heard the learned counsels on either side and on considering the affidavit that is filed before this Court, this Court is passing the following: ORDER (i) Accordingly, the writ petition is disposed of. The petitioners shall pay the amount of Rs.4,25,72,000/- entire outstanding amount within a period of four months from today. - 5 - HC-KAR NC: 2026:KHC-D:566 WP No. 110055 of 2025 (ii) If the petitioners fail to pay the amount within four months from today, they shall voluntarily handover the possession of the secured assets to the respondent-Bank and the respondent-Bank is at liberty to take further steps. (iii) All I.As. in this petition shall stand closed. SD/- JUSTICE LALITHA KANNEGANTI RH CT: UMD List No.: 1 Sl No.: 13