- 1 - HC-KAR NC: 2026:KHC:10055 WP No. 10588 of 2021 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 18TH DAY OF FEBRUARY, 2026 BEFORE THE HON'BLE MR. JUSTICE M.G.S. KAMAL WRIT PETITION NO. 10588 OF 2021 (GM-RES) BETWEEN: 1. MR UPPINA KUDURU DINESH AITHAL S/O MR. U. GOPALAKRISHNA AITHAL, AGED ABOUT 56 YEARS, R/AT NO 151, 5TH MAIN ROAD, 4TH PHASE, 7TH BLOCK, BSK III STAGE, BENGALURU-560 085. 2. MR HERIYANNA SHETTY B., S/O MR SHIVARAM SHETTY, AGED ABOUT 42 YEARS, R/AT NO.85,, 1ST J CROSS, SHARADA COLONY, BASAVESHWARA NAGAR, BENGALURU-560 079. …PETITIONERS (BY SRI. A. GURUPRASAD., ADVOCATE FOR SMT. GAYATHRI K.S., ADVOCATE) AND: 1. THE AUTHORIZED OFFICER, CORPORATION BANK ZONAL OFFICE, P B NO.64, CORPORATION BANK ROAD, UDUPI-576 101. 2. MR C M. MUPASILA @ SADDAM S/O MR CHOUDARY MOHAMMED IBRAHIM SAB, AGED ABOUT 44 YEARS, Digitally signed by SUMA B N Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:10055 WP No. 10588 of 2021 R/AT YAKINSHA COLONY, THARIKERE ROAD, 2ND CROSS, MAQBAL MANJIL BHADRAVATHI, SHIMOGA DISTRICT. 3. MRS SEEMA BANU W/O MR C M MAPASILA @ SADDAM, AGED ABOUT 38 YEARS, R/AT YAKINSHA COLONY, THARIKERE ROAD, 2ND CROSS, MAQBAL MANJIL BHADRAVATHI, SHIMOGA DISTRICT. …RESPONDENTS (BY SRI. VENKATESH T., ADVOCATE FOR SRI. V.B. RAVISHANKAR., ADVOCATE FOR R1 SRI. RAVISHANKAR S., ADVOCATE FOR R2 & R3) THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO DIRECT THE R-1 BANK TO ACCEPT THE BALANCE OTS AMOUNT OF RS.2,77,00,000/- (RUPEES TWO CRORES SEVENTY SEVEN LAKHS ONLY) AS FULL AND FINAL SETTLEMENT FROM THE PETITIONERS TOWARDS LOAN ACCOUNTS OF THE R-2 AND 3 IN RESPECT OF THE PETITION SCHEDULE PROPERTY AND DIRECT TO RELEASE THE PETITION SCHEDULE PROPERTY IN FAVOUR OF THE PETITIONERS BY R-1 BANK. THIS PETITION, COMING ON FOR PRELIMINARY HEARING IN 'B' GROUP, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE M.G.S. KAMAL ORAL ORDER Petitioners having entered into an agreement dated 29.09.2018 with respondents 2 and 3, the original borrowers from Corporation Bank is before this Court - 3 - HC-KAR NC: 2026:KHC:10055 WP No. 10588 of 2021 being aggrieved by the steps initiated by the respondent No.1-Bank (now called as Union Bank) under the Securitization and Construction of Financial Assets and Enforcement Security Interest Act, 2002 (for short `SARFAESI Act'). 2. Learned counsel for petitioners after arguing the matter for sometime submits that if liberty is reserved to the petitioners to avail such remedy as may be available and permissible under law keeping open all the contentions to be urged, the purpose of the petition would be served. 3. The proceedings which the respondent No.1- Corporation Bank initiated is one under Section 13 of the SARFAESI Act. Petitioners claim to have purchased the secured assets from the original borrowers. Petitioners if aggrieved by the initiation of the proceedings, are always entitled to avail the remedy provided under Section 17 of the Act. Reserving such liberty and keeping open all the questions to be urged therein, Petition is disposed of. - 4 - HC-KAR NC: 2026:KHC:10055 WP No. 10588 of 2021 4. Time consumed in this petition shall be excluded for the purpose of limitation. Sd/- (M.G.S. KAMAL) JUDGE SBN List No.: 1 Sl No.: 26