- 1 - HC-KAR NC: 2026:KHC:10082 WP No. 27174 of 2024 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 18TH DAY OF FEBRUARY, 2026 BEFORE THE HON'BLE MR. JUSTICE B M SHYAM PRASAD WRIT PETITION NO. 27174 OF 2024 (GM-RES) BETWEEN: MRS MAYAKSHI SHETTY D/O JAYARAMA SHETTY, C/O SANDEEP KUMAR, AGED ABOUT 39 YEARS, RESIDING AT DEVIPRASAD, VAMANJOOR CHECK POST, THIRUVAIL, MANGALURU, D K DISTRICT - 570 028. …PETITIONER (BY SRI.RAKSHITH KUMAR., ADVOCATE) AND: 1. PIRAMAL CAPITAL AND HOUSING FINANCE LTD., REGISTERED OFFICE NO.601, 6TH FLOOR, AMITI BUILDING, AGASTYA CORPORATE PARK, KAMANI JUNCTION, OPP. FIRE STATION, CBS MARG, KURLA (WEST), MUMBAI-400070. Digitally signed by RAKESH S HARIHAR Location: High Court of Karnataka, Dharwad Bench - 2 - HC-KAR NC: 2026:KHC:10082 WP No. 27174 of 2024 REPRESENTED BY ITS MANAGING DIRECTOR 2. THE AUTHORISED OFFICER/ BRANCH MANAGER, PIRAMAL CAPITAL AND HOUSING FINANCE LTD, NOS.305 AND 306, 3RD FLOOR, INLAND ORNET, NAVABHARAT CIRCLE, KODIALBAIL, MANGALURU, D.K. - 575 003. WWW.PIRAMALFINANCE.COM/ E-AUCTION HTML …RESPONDENTS (BY SRI.S LAKSHMINARAYANA., ADVOCATE FOR R1 & R2) THIS W.P. IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO A) DIRECTING THE RESPONDENTS TO ISSUE THE REVISED AND EXTENDED LETTER OF CONFIRMATION TO THE PETITIONER AND RECEIVE THE BALANCE PURCHASE PRICE; B) TO DIRECT RESPONDENTS TO ISSUE SALE CERTIFICATE BY RECEIVING THE BALANCE PURCHASE PRICE. - 3 - HC-KAR NC: 2026:KHC:10082 WP No. 27174 of 2024 THIS PETITION, COMING ON FOR PRELIMINARY HEARING IN 'B' GROUP, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD ORAL ORDER The petitioner has successfully participated in the auction conducted by the respondents to bring a secured asset [a residential property] to sale. The petitioner seeks directions to the respondents to receive the balance purchase price and issue the Sale Certificate. This Court, on 01.10.2024, has directed the respondents not to forfeit the Earnest Money Deposit till the next date of hearing, and this arrangement is continued. 2. The petitioner relies upon the following to invoke this Court’s jurisdiction. The petitioner has deposited 25% of the price that she has offered on 05.06.2024, and she was required to offer the - 4 - HC-KAR NC: 2026:KHC:10082 WP No. 27174 of 2024 remaining 75% of the price before 19.06.2024 but she has not. Her participation in the auction is on her Banker’s assurance to extend financial assistance, and to avail such financial assistance she had to, amongst others, furnish e-khata for the property. The borrower had not only defaulted in paying the loan but also in paying property taxes and getting e-khata and therefore she had to pursue with the local authority to secure e-khata which is issued only on 27.08.2024. Thereafter, she has pursued with the respondents for payment of 75% of the balance sale consideration. 3. The petitioner has filed an undertaking affidavit before this Court on 31.10.2025 stating that she will have to pay a sum of Rs.13,57,000/- and interest at the rate of 6% per annum and with this amount she would be entitled to the Sale Certificate. Sri Rakshith Kumar, the learned counsel for the petitioner, is heard in these circumstances as is Sri - 5 - HC-KAR NC: 2026:KHC:10082 WP No. 27174 of 2024 S. Lakshminarayana, the learned Counsel for the respondents. 4. Sri S. Lakshminarayana opposes the petitioner's request for directions asserting that the petitioner, a defaulter, cannot be permitted to offer the amount belatedly. However, the crucial facts which must turn the outcome in the petition are that, [i] the petitioner could not have availed financial assistance [it is not in dispute that a purchaser could borrow to fund the purchase in the auction] without e- khata for the subject property, [ii] the respondents did not have e-khata with them and [iii] it is the petitioner who has pursued with the local authorities after paying all the property taxes for issuance of such e-khata which now renders the property ready for conveyance. 5. This Court is of the view that this must inure to the petitioner's advantage and the respondents must be called upon to receive the - 6 - HC-KAR NC: 2026:KHC:10082 WP No. 27174 of 2024 consideration along with appropriate interest and issue Sale Certificate with the responsibility being on the petitioner to ensure that it is duly registered. Sri Rakshith Kumar and Sri S. Lakshminarayana are heard on the amounts that the petitioner will have to pay. 6. Sri Rakshith Kumar and Sri S. Lakshminarayana cannot dispute that the petitioner must tender not only 75% of the purchase price offered [Rs.13,57,500/-] but also interest at the rate of 6% per annum on this amount from 19.06.2024 till the date of deposit and the petitioner must offer this amount within a reasonable time. If the petitioner offers this amount within reasonable time as permitted by this Court, the respondents must issue Sale Certificate and ensure that every document is executed as would be necessary for the registration thereof. Hence, the following. - 7 - HC-KAR NC: 2026:KHC:10082 WP No. 27174 of 2024 ORDER The petition is allowed directing the respondents to execute the Sale Certificate and facilitate execution of all adjunct documents for the subject property in favour of the petitioner subject to the following conditions: [a] The petitioner must deposit Rs.13,57,500/- along with interest at the rate of 6% per annum commencing from 19.06.2024 to the date of deposit. [b] The petitioner must offer the afore amount before 15.03.2026. Sd/- (B M SHYAM PRASAD) JUDGE NV List No.: 1 Sl No.: 23