- 1 - HC-KAR NC: 2026:KHC:16337 WP No. 13648 of 2025 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 18TH DAY OF MARCH, 2026 BEFORE THE HON'BLE SMT. JUSTICE LALITHA KANNEGANTI WRIT PETITION NO. 13648 OF 2025 (GM-DRT) BETWEEN: 1. JAY PRAKASH L S/O. LAKSHMINARAYANA G, AGED ABOUT 33 YEARS, RESIDING AT VILLA 417, CONCORDE NAPA VALLEY, KANAKPURA ROAD, VTC THARALU, PO TARALU, DISTRICT BENGALURU - 560 082 2. SMT. C.M LAKHSMAMMA ALIAS C.M. LAKSHMI W/O. LATE CHIDANANDAPPA, AGED ABOUT YEARS, RESIDING AT NADURU POST, GOWDGERE HOBLI, SIRA TALUK, SEEGLAHALLI, TUMKUR - 572 135 3. CHANDRASHEKAR T.D NO.3A, 1ST A MAIN ROAD, VINAYAKA LAYOUT, MYADARAHALLI, CHIKKABANAVARA, BANGALORE - 560 090. Digitally signed by SUVARNA T Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:16337 WP No. 13648 of 2025 4. LAVANYA NO.3A, 1ST A MAIN ROAD, VINAYAKA LAYOUT, MYADARAHALLI, CHIKKABANAVARA, BANGALORE - 560 090 5. LAKSHMINARAYANA G NO.71, SEEGALAHALLI, NADUR POST, SIRA TALUK, KARNATAKA - 572 135 …PETITIONERS (BY SRI. NARASIMHAN S., ADVOCATE) AND: 1. CREDILA FINANCIAL SERVICES LTD HAVING ITS REGISTERED OFFICE AT B-301, CITI POINT, ANDHERI-KURLA MAIN ROAD, NEXT TO KOHINOOR CONTINENTAL, ANDHERI (EAST) MUMBAI - 400 050 REPRESENTED BY ITS SENIOR MANAGER JAGRUTI VAIDYA AND HAVING ITS BRANCH OFFICE AT 1ST FLOOR, SAI COMPLEX, 114, MAHATMA GANDHI ROAD, ABOVE UNION BANK OF INDIA, NEXT TO JOYALUKKAS SHOWROOM, HARIDEVPUR, SHANTHALA NAGAR, ASHOK NAGAR, BANGALORE - 560 001 …RESPONDENT (BY SRI. UDAYA SHANKAR RAI P., ADVOCATE) - 3 - HC-KAR NC: 2026:KHC:16337 WP No. 13648 of 2025 THIS WP IS FILED UNDER ARTICLES 226 AND227 OF THE CONSTITUTION OF INDIA PRAYING TO A) SET ASIDE THE IMPUGNED NOTICE DATED 02.04.2025 AT ANNEXURE A PASSED BY THE RESPONDENT BANK UNDER SECTION 13(4) READ WITH RULE 8 OF THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT 2002 (SARFAESI ACT) CALLING UPON THE PETITIONERS TO REPAY AN AMOUNT AGGREGATING TO RS.47,82,315/- AS ON 19.07.2024 PLUS ACCRUED INTEREST / UNREALISED INTEREST AT THE CONTRACTUAL RATE (S) TOGETHER WITH INCIDENTAL EXPENSES, COSTS, CHARGES, ETC. TILL THE DATE FINAL PAYMENT IS MADE TO THE RESPONDENT. THIS PETITION, COMING ON FOR PRELIMINARY HEARING IN 'B' GROUP, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE SMT. JUSTICE LALITHA KANNEGANTI ORAL ORDER The present writ petition is filed seeking the following prayers: "a. Set aside the Impugned Notice dated 02.04.2025 at Annexure A passed by the Respondent Bank under section 13(4) read with rule 8 of the Securitisation and Reconstruction of financial Assets and enforcement of Security Interest Act 2002 (SARFAESI Act) calling upon the Petitioners to repay an amount aggregating to Rs. 47,82,315/- as on - 4 - HC-KAR NC: 2026:KHC:16337 WP No. 13648 of 2025 19/07/2024 plus accrued interest/ unrealised interest at the contractual rate(s) together with incidental expenses, costs, charges, etc. till the date final payment is made to the Respondent; b. Pass any such other Order/(s) as this Hon'ble Court may deem fit in the interest of Justice and Equity." 2. The writ petition is of the year 2025. As there was no representation on behalf of the petitioners on the last occasion, this Court had directed the matter to be listed under the caption for 'dismissal' on 18.03.2026. Today also, there is no representation on behalf of the petitioners. 3. The writ petition is filed against the Credila Financial Services Ltd., which is a private finance company. In the light of the law laid down by the Hon’ble Supreme Court in Phoenix ARC Private Limited vs. Vishwa Bharati Vidya Mandir & Others, in Civil Appeal Nos.257-259 of 2022, a writ petition against the private financial company is not maintainable. - 5 - HC-KAR NC: 2026:KHC:16337 WP No. 13648 of 2025 4. Hence, the writ petition is liable to be dismissed as not maintainable. In that view of the matter, this Court is passing the following: ORDER i. Accordingly, the writ petition is dismissed as not maintainable giving liberty to the petitioner to avail the appropriate remedy. ii. Pending IAs., if any, shall stand closed. SD/- (LALITHA KANNEGANTI) JUDGE SMC List No.: 1 Sl No.: 16