- 1 - HC-KAR NC: 2026:KHC:7588 WP No. 601 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 9TH DAY OF FEBRUARY, 2026 BEFORE THE HON'BLE MR. JUSTICE ASHOK S.KINAGI WRIT PETITION NO. 601 OF 2024 (GM-DRT) BETWEEN: 1. K RAVI S/O M KOTHANDAN AGED ABOUT 52 YEARS, 2. VANITHA R W/O K RAVI AGED ABOUT 36 YEARS, BOTH ARE R/AT FLAT NO.001, SEVEN DREAM APARTMENT, OKALIPURAM, 5TH MAIN ROAD, BENGALURU – 560021 3. BHARATHI ENGINEERING WORKS NO.31/14TH MAIN ROAD, 9TH CROSS, LAKSHMINARAYANAPURAM, SHRIRAMPURAM, BANGALORE - 560021 BY ITS PROPRIETOR K RAVI REGISTERED UNDER COMPANIES ACT 1956 …PETITIONERS (BY SRI. NATARAJU T., ADV.) AND: 1. BAJAJ FINSERV LIMITED 2ND FLOOR, JK TOWERS, 719/A-53-2 46TH CROSS, SANGAM CIRCLE, JAYANAGARA 8TH BLOCK, BENGALURU - 560082 Digitally signed by SUNITHA K S Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:7588 WP No. 601 of 2024 BY ITS MANAGER REGISTERED UNDER COMPANIES ACT 1956 2. THE AUTHORISED OFFICER BAJAJ FINSERV LIMITED 801 TO 805, 8TH FLOOR, PRESTIGE TOWERS, BANGALORE - 560025 REGISTERED OFFICE AT MUMBAI PUNE ROAD, AKURDI, PUNE - 411 035, MAHARASHTRA BY ITS MANAGER. 3. MRS. LAVANYA B R/AT NEW MUNICIPAL NO.L-31/1 PART OF OLD NO.L-31 OLD MUNICIPAL NO.188/1 AND 188/2 OLD SITE NO.6 AND 7, 4TH MAIN, 9TH CROSS, LAKSHMINARAYANAPURAM, SHRIRAMPURA, BENGALURU - 560021 …RESPONDENTS (BY SRI. JAYAKUMAR S PATIL, ADV. FOR SRI. DILIP M R, ADV. FOR R1 & R2, SRI SHARATH KUMAR SHETTY, ADV. FOR R3) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO A) QUASH THE SALE NOTICE DTD. 26/09/2023 ISSUED BY THE R2, VIDE ANNEXURE-E IN RESPECT OF THE SCHEDULE PROPERTY, B) DIRECTING THE R1 TO CONSIDER THE EMAIL DTD. 28/12/2023 VIDE ANNEXURE-Q, AND GRANT AN INTERIM PRAYER TO STAYING ALL FURTHER PROCEEDINGS OF SALE NOTICE DTD. 26/09/2023 ISSUED BY THE R2 VIDE ANNEXURE- E AND CONSEQUENTLY DIRECT THE RESPONDENTS NOT TO DISPOSSESS THE PETITIONERS FROM THE SCHEDULE PROPERTY. THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: - 3 - HC-KAR NC: 2026:KHC:7588 WP No. 601 of 2024 CORAM: HON'BLE MR. JUSTICE ASHOK S.KINAGI ORAL ORDER 1. The petitioner filed this petition seeking the following reliefs: i. Issue a writ in the nature of certiorari quashing the sale notice dated 26.09.2023 issued by respondent No.2, vide Annexure-E in respect of the schedule property. ii. Issue a writ in the nature of mandamus, directing the respondent No.1 to consider the email dated 28.12.2023 vide Annexure-Q. iii. Issue such other direction which the Hon’ble Court deems fit under the circumstances of the case, in the interest of justice and equity. 2. Brief facts, giving rise to the filing of this petition are as follows: 3. Petitioner No.1 is the owner of the schedule property and he borrowed loan from the respondent’s financial institution and petitioner Nos.2 and 3 are the co- borrowers. The petitioners have committed default in payment of loan obtained by them. The - 4 - HC-KAR NC: 2026:KHC:7588 WP No. 601 of 2024 respondents have issued a demand notice calling upon the petitioners to pay an outstanding sum of Rs.1,95,51,290/- as on 31.12.2021 and on 20.07.2023, the respondent bank issued a sale notice by putting the schedule property in public auction by scheduling the date of auction on 25.08.2023, the same was materialised. On 30.08.2023, the respondents financial institutions issued a auction notification by way of sale notice dated 30.08.2023 and the auction was scheduled to be held on 16.09.2023. Again sale notice was issued on 26.09.2023. Even the said sale notice did not materialised. The petitioners approached this Court in W.P.No.24727/2023. During the pendency of the said writ petition, the petitioners have filed an affidavit undertaking to settle the matter as full and final settlement for Rs.1,50,00,000/-. The respondents financial institution denied to accept the offer and demanded to repay the entire outstanding - 5 - HC-KAR NC: 2026:KHC:7588 WP No. 601 of 2024 dues of Rs.2,02,43,857/- to close the books of account in respect of all the 3 loans. The petitioners were not in a position to mobilise the entire outstanding dues and they have withdrawn the writ petition as not pressed. On 26.09.2023, the respondent No.2 issued a sale notice. The petitioner aggrieved by the sale notice, filed this writ petition. 4. Heard the learned counsel for the petitioners and learned counsel for the respondents. 5. Learned counsel for the petitioners submits that the petitioners have deposited the amount of Rs.1,60,00,000/- with the respondents institution. He submits that a direction be issued to respondent Nos.1 and 2 to refund the amount of Rs.1,60,00,000/- deposited by the petitioners. If the respondents are ready to refund the amount of Rs.1,60,00,000/- , the petitioners will not proceed with the writ petition. - 6 - HC-KAR NC: 2026:KHC:7588 WP No. 601 of 2024 6. Learned counsel for respondent No.3 contended that the petitioners have obtained the loan and they failed to repay the loan amount and committed default and contended that financial institution has already sold the property in auction and sale certificate was issued in favour of the auction purchaser. Hence, the writ petition filed by the petitioners is not maintainable and prays to dismiss the suit. 7. Per contra, learned senior counsel Sri. Jayakumar S. Patil, appearing for the respondent Nos.1 and 2 submits that respondent Nos.1 and 2 are ready to refund the amount of Rs.1,60,00,000/- with interest @ 6% p.a. from the date of deposit till the realisation and the said amount will be transferred within two weeks. 8. As the petitioners are intending refund of the amount of Rs.1,60,00,000/- with interest @ 6% and the respondents have agreed for refund of amount of - 7 - HC-KAR NC: 2026:KHC:7588 WP No. 601 of 2024 Rs.1,60,00,000/- with interest @ 6%, in view of the same, the petition does not survive for consideration. 9. Accordingly, I proceed to pass the following order: ORDER i. The writ petition is disposed off directing the respondent Nos.1 and 2 to refund the amount of Rs.1,60,00,000/- with interest @ 6% p.a. from the date of deposit till realisation within two weeks from the date of receipt of certified copy of this order. ii. Pending applications, if any, shall stand disposed off. Sd/- (ASHOK S.KINAGI) JUDGE SKS