Full Judgment Text
- 1 -
NC: 2026:KHC:20696
WP No. 9618 of 2026
HC-KAR
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
TH
DATED THIS THE 16 DAY OF APRIL, 2026
BEFORE
THE HON'BLE SMT. JUSTICE LALITHA KANNEGANTI
WRIT PETITION NO. 9618 OF 2026 (GM-DRT)
BETWEEN:
1. M/S. SHRINE ENTERPRISES
PROP SRI. NARASIMHAMURTHY S.E.
TH TH
NO.506, 17 CROSS, 36 MAIN,
TH
J.P.NAGAR, 6 PHASE,
BENGALURU - 560 078.
2. SRI. NARASIMHAMURTHY S.E.
S/O. M. ESHWAR RAO,
AGED ABOUT 54 YEARS,
ND TH
NO. 16, 2 FLOOR, 17 CROSS,
ND TH
22 MAIN, 5 PHASE, J.P. NAGAR,.
SHAMANNA GARDEN, AYODYA NAGAR,
BENGALURU - 560 078.
…PETITIONERS
(BY SRI. SARAVANAN G., ADVOCATE)
Digitally signed
by SUVARNA T
Location: HIGH
COURT OF
KARNATAKA
AND:
1. THE AUTHORISED OFFICER
SREE SUBRAMANYESWAR CO-OPERATIVE BANK LTD.
A.O.: "RAJATHA BHAVANA"
NO.106, R.V. ROAD,
VISVESWARAPURAM,
BENGALURU - 560 004.
2. SMT. MAMATHA B.
W/O. NARASIMHAMURTHY S.E.
- 2 -
NC: 2026:KHC:20696
WP No. 9618 of 2026
HC-KAR
AGED ABOUT 38 YEARS,
ND TH
NO.16, 2 FLOOR, 17 CROSS,
ND TH
22 MAIN, 5 PHASE, JP NAGAR,
SHAMANNA GARDEN, AYODYA NAGAR,
BENGALURU - 560 078.
3.
SRI. KUMAR P.G.
FATHERS NAME NOT KNOWN
MAJOR,
TH
NO.274, 275, 10 CROSS,
ST ND
1 STAGE, 2 PHASE,
MANJUNATHANAGAR, RAJAJINAGAR,
BENGALURU - 560 010.
…RESPONDENTS
THIS W.P. IS FILED UNDER ARTICLES 226 AND 227 OF
THE CONSTITUTION OF INDIA PRAYING TO QUASH THE
IMPUGNED SALE NOTICE DATED 09.03.2026 ANNEXURE-E
ST
ISSUED BY THE 1 RESPONDENT BANK AND PUBLISHED IN
THE NEW INDIAN EXPRESS DATED 10.03.2026 VIDE
ANNEXURE-E, PROPOSING TO AUCTION THE SCHEDULE
PROPERTY ON 25.03.2026, UNDER THE PROVISIONS OF THE
SECURITISATION AND RECONSTRUCTION OF FINANCIAL
ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT,
2002 AND THE SECURITY INTEREST (ENFORCEMENT) RULES,
2002, AND ACCORDINGLY DECLARE THE SAID SALE NOTICE
AS ILLEGAL, ARBITRARY, AND VOID AB INITIO AND ETC.
THIS PETITION, COMING ON FOR PRELIMINARY
HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER:
- 3 -
NC: 2026:KHC:20696
WP No. 9618 of 2026
HC-KAR
CORAM: HON'BLE SMT. JUSTICE LALITHA KANNEGANTI
ORAL ORDER
The writ petition is filed seeking the following prayer:
(a) Issue a writ of certiorari or any other
appropriate writ, order, or direction quashing
the impugned sale notice dated 09.03.2026
st
issued by the 1 respondent bank and
published in "The New Indian Express" dated
10.03.2026 vide Annexure-E, proposing to
auction the schedule property on 25.03.2026,
under the provisions of the Securitization and
Reconstruction of Financial Assets and
Enforcement Security Interest Act, 2002 and
the Security Interest (Enforcement) Rules,
2002, and accordingly, declare the said Sale
Notice as illegal, arbitrary and void ab initio.
(b) Pass such other Writ, Order, or
Direction as this Hon'ble Court may deem fit
and proper in the facts and circumstances of
the case, in the interests of justice and equity.
2. The respondent is Subramanyeswar Co-operative
Bank Ltd. In the light of the law laid down in the Hon’ble Apex
Court in Civil Appeal Nos.257-259/2022 between Phoenix ARC
- 4 -
NC: 2026:KHC:20696
WP No. 9618 of 2026
HC-KAR
Private Limited Vs. Vishwa Bharathi Vidya Mandir and
others arising out of WP.Nos.35564-35566/2015 dated
27.03.2018, the writ petition against the respondent is not
maintainable.
3. Accordingly, this Court is passing the following:
O R D E R
(i) Writ petition is disposed of giving liberty to
the petitioner to avail the appropriate remedy within
30 days from the date of receipt of the copy of the
order.
(ii) The petitioner shall have the benefit of
Section 14 of the Limitation Act, 1963.
All I.As. in the writ petition shall stand closed.
SD/-
(LALITHA KANNEGANTI)
JUDGE
SS
List No.: 1 Sl No.: 28