- 1 - HC-KAR NC: 2026:KHC:15209 WP No. 8402 of 2026 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 13TH DAY OF MARCH, 2026 BEFORE THE HON'BLE SMT. JUSTICE LALITHA KANNEGANTI WRIT PETITION NO. 8402 OF 2026 (GM-DRT) BETWEEN: VALUFOCUS ECO-REVIVE PACKAGING, HAVING OFFICE AT 4TH FLOOR, 15, 1ST MAIN ROAD, TATA SILK FARM, BASAVANAGUDI, BENGALURU-560 004. REPRESENTED THROUGH MR. PAVAN KUMAR R.S., AGE: 43 YEARS, FATHER'S NAME: SANJEEV MURTHY, MOB:9945666773 E-MAIL:pavan.kumar@valufocus.com. (UNDER UNREGISTERED INDIAN PARTNERSHIP ACT, 1984). …PETITIONER (BY SRI. UMAKANTHA. V, ADVOCATE) AND: 1. SHAMRAO VITTHAL CO-OPERATIVE BANK, REGIONAL OFFICE-2, NO.27, 1ST FLOOR, MOUNT JOY ROAD, CHAMARAJPET, BENGALURU-560 019. (MAHARASHTRA CO-OPERATIVE SOCIETIES ACT, 1960). HAVING ONE OF ITS BRANCHES AT - KATARI KUNJ, 9TH CROSS, OPP. ST. JOHN'S COLLEGE, BEHIND VIJAY MANSION, Digitally signed by SUVARNA T Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:15209 WP No. 8402 of 2026 HAMPINAGAR, VIJAYANAGAR, BENGALURU - 560 104. HAVING ITS RECOVERY DEPARTMENT OFFICE AT-SVC TOWER, JAWAHARLAL NEHRU ROAD, VAKOLA, SANTACRUZ (EAST)- 400 055. REPRESENTED HEREIN BY ITS MANAGER. 2. DEVKIRAN PAPER MILLS PRIVATE LIMITED, A PRIVATE LIMITED COMPANY UNDER THE COMPANIES ACT, 2013, HAVING ADDRESS AT NO.919, FIRST FLOOR, 2ND CROSS, 5TH MAIN, M.C. LAYOUT, VIJAYANAGAR, BENGALURU-560 040. REPRESENTED HEREIN BY ITS DIRECTORS-R. H. SREENIVASA SETTY, R. H. RAMAKRISHNA SETTY, MR. PRASHANTH R. S AND MR. R. T. KIRAN. …RESPONDENTS (BY SRI. M.S. SURYANARAYAN RAO, ADVOCATE FOR C/R1 (CP.NO.5640/2026)) THIS W.P. IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA PRAYING TO SET ASIDE THE E- AUCTION NOTICE 25.02.2026, ISSUED BY THE 1ST RESPONDENT BANK IN RESPECT OF THE SCHEDULE PROPERTY, UNDER RULE 8 OF THE SARFAESI SECURITY INTEREST (ENFORCEMENT) RULES, 2002, SCHEDULING THE E-AUCTION OF THE SCHEDULE PROPERTY ON 13.03.2026 AND CONSEQUENTLY QUASH ALL PROCEEDINGS INITIATED BY THE 1ST RESPONDENT BANK, PURSUANT TO OR IN FURTHERANCE OF THE E-AUCTION NOTICE DATED 25.02.2026, INCLUDING THE E-AUCTION SCHEDULED FOR 13.03.2026 VIDE ANNX-A AND ETC. THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 3 - HC-KAR NC: 2026:KHC:15209 WP No. 8402 of 2026 CORAM: HON'BLE SMT. JUSTICE LALITHA KANNEGANTI ORAL ORDER The present writ petition is filed seeking the following prayer: "WHEREFORE, the Petitioner most respectfully prays that this Hon'ble Court may be pleased to: (a) SET ASIDE the e-auction notice 25.02.2026, issued by the 1st Respondent Bank in respect of the Schedule Property, under Rule 8 of the SARFAESI Security Interest (Enforcement) Rules, 2002, scheduling the e-auction of the Schedule Property on 13.03.2026 and CONSEQUENTLY QUASH all proceedings initiated by the 1st Respondent Bank, pursuant to or in furtherance of the e-auction notice dated 25.02.2026, including the e- auction scheduled for 13.03.2026 vide Annexure-A;. (b) GRANT costs of this petition; and (c) PASS such other and further orders as this Hon'ble Court may deem fit and proper in the facts and circumstances of the case and in the interests of justice and equity." 2. In the light of the Judgment passed by the Hon’ble Apex Court in Civil Appeal Nos.257-259/2022 between Phoenix ARC Private Limited Vs. Vishwa Bharathi Vidya Mandir and others arising out of WP.Nos.35564-35566/2015 dated 27.03.2018, the present writ petition is not maintainable against the respondents. - 4 - HC-KAR NC: 2026:KHC:15209 WP No. 8402 of 2026 3. Learned counsel for the petitioner seeks liberty to avail the remedy. 4. In that view of the matter, this Court is passing the following: ORDER i. The writ petition is disposed of giving liberty to the petitioner to avail the appropriate remedy. ii. All I.As., in the writ petition shall stand closed. SD/- (LALITHA KANNEGANTI) JUDGE BN List No.: 1 Sl No.: 37