Full Judgment Text
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NC: 2026:KHC:3894
WP No. 13230 of 2025
C/W WP No. 12691 of 2025
WP No. 16355 of 2025
HC-KAR
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
RD
DATED THIS THE 23 DAY OF JANUARY, 2026
BEFORE
THE HON'BLE MR. JUSTICE B M SHYAM PRASAD
WRIT PETITION NO. 13230 OF 2025 (GM-RES)
C/W
WRIT PETITION NO. 12691 OF 2025 (GM-RES)
WRIT PETITION NO. 16355 OF 2025 (GM-RES)
IN WP No. 13230/2025
BETWEEN:
NORTHROOF VENTURES PRIVATE LIMITED
FORMERLY KNOWN AS
NITESH HOUSING DEVELOPERS PVT. LTD.
A COMPANY INCORPORATED UNDER
THE PROVISIONS OF THE
COMPANIES ACT, 1956.
HAVING ITS REGISTERED OFFICE AT
NO. 1/B, FIRST FLOOR,
NO.41, CASTLE STREET,
OPPOSITE SACRED HEART CHURCH,
RICHMOND ROAD, ASHOK NAGAR
RICHMOND TOWN,
BANGALORE-560 025
REPRESENTED BY ITS
AUTHORIZED SIGNATORY
SRI. K.B. SWAMY
…PETITIONER
Digitally
signed by
VANAMALA
N
Location:
HIGH
COURT OF
KARNATAKA
(BY SMT. SUMANA NAGANAND.,ADVOCATE)
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WP No. 13230 of 2025
C/W WP No. 12691 of 2025
WP No. 16355 of 2025
HC-KAR
AND:
1. RESERVE BANK OF INDIA
TH
4 FLOOR, RBI BYCULLA OFFICE BUILDING,
OPP. MUMBAI CENTRAL RAILWAY STATION,
BYCULLA,
MUMBAI-400008
REPRESENTED BY ITS GOVERNOR.
2. RESERVE BANK OF INDIA,
HAVING ITS REGIONAL OFFICE AT
10/3/8, NRUPUTHUNGA ROAD,
P.B 5467, BENGALURU-560001
REPRESENTED BY ITS
GENERAL MANAGER.
3. M/S. YES BANK LTD.,
A COMPANY REGISTERED UNDER
THE COMPANIES ACT, 1956 HAVING ITS
REGISTERED OFFICE AT
YES BANK HOUSE,
OFF WESTERN EXPRESS HIGHWAY
SANATACRUZ EAST,
MUMBAI -400055
REPRESENTED BY ITS
CHIEF VIGILANCE OFFICER,
SRI. BINU SOMAN.
4. J.C FLOWERS ASSET
RECONSTRUCTION PVT. LTD.,
COMPANY REGISTERED UNDER
COMPANIES ACT, 1956
TH
12 FLOOR,
CROMPTON GREAVES HOUSE,
DR. ANNIE BESANT ROAD, WORLI,
MUMBAI-400030
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NC: 2026:KHC:3894
WP No. 13230 of 2025
C/W WP No. 12691 of 2025
WP No. 16355 of 2025
HC-KAR
REPRESENTED BY ITS
MANAGING DIRECTOR.
…RESPONDENTS
(BY SRI. MANIK B T., ADVOCATE FOR R1 AND R2;
SRI. PINAZ MEHTA., ADVOCATE FOR R4)
THIS WP IS FILED UNDER ARTICLES 226 AND
227 OF THE CONSTITUTION OF INDIA PRAYING TO
A. QUASHING THE SHOW CAUSE NOTICE DATED
27.03.2025 BEARING NO. NHDPL/VIG/24-25/NHDPL-
001 ISSUED BY RESPONDENT NO. 3 TO THE
PETITIONER (ANNEXURE Q); B. DECLARING THE
ACTIONS OF RESPONDENT NO. 3 IN SEEKING TO
PROCEED DE NOVO AGAINST THE PETITIONER AS
ILLEGAL AND WHOLLY WITHOUT JURISDICTION.
IN WP NO. 12691/2025
BETWEEN:
NITESH RESIDENCY HOTELS PRIVATE LIMITED
A COMPANY REGISTERED UNDER
THE COMPANIES ACT, 1956
HAVING ITS REGISTERED OFFICE AT
LEVEL 4, B WING,
THE RITZ CARLTON HOTEL,
99 RESIDENCY ROAD, BENGALURU-560025
REPRESENTED HEREIN BY ITS AUTHORIZED
SIGNATORY, SRI. K.B. SWAMY
...PETITIONER
(BY SMT. SUMANA NAGANAND.,ADVOCATE)
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WP No. 13230 of 2025
C/W WP No. 12691 of 2025
WP No. 16355 of 2025
HC-KAR
AND:
1. RESERVE BANK OF INDIA
TH
4 FLOOR, RBI BY
CULLA OFFICE BUILDING,
OPP. MUMBAI CENTRAL
RAILWAY STATION,
BYCULLA, MUMBAI-400008
REPRESENTED BY ITS GOVERNOR.
2. RESERVE BANK OF INDIA,
HAVING ITS REGIONAL OFFICE AT
10/3/8, NRUPUTHUNGA ROAD,
P.B 5467, BENGALURU-560001
REPRESENTED BY ITS
GENERAL MANAGER.
3. M/S. YES BANK LTD.,
A COMPANY REGISTERED UNDER
THE COMPANIES ACT, 1956
HAVING ITS REGISTERED OFFICE AT
YES BANK HOUSE,
OFF WESTERN EXPRESS HIGHWAY
SANATACRUZ EAST,
MUMBAI-400055
REPRESENTED BY ITS
CHIEF VIGILANCE OFFICER,
SRI. BINU SOMAN.
4. M/S. J.C FLOWERS ASSET
RECONSTRUCTION PVT. LTD.,
A COMPANY REGISTERED UNDER
THE COMPANIES ACT, 2013 HAVING ITS
REGISTERED OFFICE AT
TH
12 FLOOR, CROMPTON
GREAVES HOUSE,
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WP No. 13230 of 2025
C/W WP No. 12691 of 2025
WP No. 16355 of 2025
HC-KAR
DR. ANNIE BESANT ROAD,
WORLI, MUMBAI-400030
REPRESENTED BY ITS
MANAGING DIRECTOR
...RESPONDENTS
(BY SRI. MANIK B T.,ADVOCATE FOR R1 AND R2;
SRI. PINAZ MEHTA., ADVOCATE FOR R4)
THIS WP IS FILED UNDER ARTICLE 226 OF THE
CONSTITUTION OF INDIA PRAYING TO QUASHING THE
SHOW CAUSE NOTICE DATED 27.03.2025 BEARING NO.
NRHPL/VIG 2024-25 (NRHPC-001) ISSUED BY
RESPONDENT NO.3 TO THE PETITIONER (ANNEXRUE-
R); DECLARING THE ACTIONS OF RESPONDENT NO-3
IN SEEKING TO PROCEED DE NOVO AGAINST THE
PETITIONER AS ILLEGAL AND WHOLLY WITHOUT
JURISDICTION.
IN WP NO. 16355/2025
BETWEEN:
MARATHALLI VENTURES PRIVATE LIMITED
FORMERLY KNOWN AS NITESH URBAN
DEVELOPMENT PVT. LTD.
A COMPANY INCORPORATED
UNDER THE PROVISIONS OF
THE COMPANIES ACT, 1956,
HAVING ITS REGISTERED OFFICE
TH
AT NO 15/45, LEVEL 1A, 4 CROSS,
CAMBRIDGE ROAD, HALASURU,
BENGALURU-560008
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WP No. 13230 of 2025
C/W WP No. 12691 of 2025
WP No. 16355 of 2025
HC-KAR
REPRESENTED BY ITS
AUTHORIZED SIGNATORY
SRI. K.B. SWAMY
...PETITIONER
(BY SMT. SUMANA NAGANAND.,ADVOCATE)
AND:
1. RESERVE BANK OF INDIA
TH
4 FLOOR, RBI BYCULLA
OFFICE BUILDING,
OPP. MUMBAI CENTRAL
RAILWAY STATION, BYCULLA,
MUMBAI-400008
REPRESENTED BY ITS GOVERNOR.
2. RESERVE BANK OF INDIA,
HAVING ITS REGIONAL OFFICE AT
10/3/8, NRUPUTHUNGA ROAD, P.B 5467,
BENGALURU-560001
REPRESENTED BY ITS
GENERAL MANAGER.
3. M/S. YES BANK LTD.,
A COMPANY REGISTERED UNDER
THE COMPANIES ACT, 1956 HAVING ITS
REGISTERED OFFICE AT
YES BANK HOUSE, OFF
WESTERN EXPRESS
HIGHWAY SANATACRUZ EAST,
MUMBAI -400055
REPRESENTED BY ITS
CHIEF VIGILANCE OFFICER,
SRI. BINU SOMAN.
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NC: 2026:KHC:3894
WP No. 13230 of 2025
C/W WP No. 12691 of 2025
WP No. 16355 of 2025
HC-KAR
4. J.C FLOWERS ASSET
RECONSTRUCTION PVT. LTD.,
TH
12 FLOOR, CROMPTON
GREAVES HOUSE,
DR. ANNIE BESANT ROAD,
WORLI, MUMBAI-400030
REPRESENTED BY ITS
MANAGING DIRECTOR.
...RESPONDENTS
(BY SRI. MANIK B T.,ADVOCATE FOR R1 AND R2;
SRI. PINAZ MEHTA., ADVOCATE FOR R4)
THIS W.P. IS FILED UNDER ARTICLES 226 AND 227
OF THE CONSTITUTION OF INDIA PRAYING TO QUASH
THE SHOW CAUSE NOTICE DATED 27.03.2025 ISSUED
BY RESPONDENT NO. 3 TO THE PETITIONER
(ANNEXURE-P); DECLARE THE ACTIONS OF
RESPONDENT NO. 3 IN SEEKING TO PROCEED DE
NOVO AGAINST THE PETITIONER AS ILLEGAL AND
WHOLLY WITHOUT JURISDICTION.
THESE PETITIONS, COMING ON FOR ORDERS,
THIS DAY, ORDER WAS MADE THEREIN AS UNDER:
CORAM: HON'BLE MR. JUSTICE B M SHYAM PRASAD
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NC: 2026:KHC:3894
WP No. 13230 of 2025
C/W WP No. 12691 of 2025
WP No. 16355 of 2025
HC-KAR
ORAL ORDER
Smt Sumana Naganand, the learned counsel for
the petitioners, has filed a memo in each of these
petitions stating that the petitions have become
infructuous.
The memo filed in the writ petition in W.P.
No.13230/2025 reads as under:
"1. The present writ petition has been
filed by the petitioner seeking, inter alia to quash
the show cause notice dated 27.03.2025 issued by
Respondent No.3 to the petitioner, seeking to
proceed de novo against the petitioner to classify
the loan account of the petitioner as fraudulent.
2. During the pendency of the above
writ petition, Respondent No.3 has issued letter
dated 19.09.2025 stating that the case of the
petitioner was put up to the Competent Committee
which examined the facts of the case and
concluded that the account of the petitioner to be
classified as 'no fraud'. Copy of the letter dated
19.09.2025 issued by Respondent No.3 is
produced herewith as Document No.1.
3. The Respondent No.3 vide its letter
dated 19.09.2025, having declared the loan
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WP No. 13230 of 2025
C/W WP No. 12691 of 2025
WP No. 16355 of 2025
HC-KAR
account of the petitioner to be classified as 'no
fraud', the present writ petition does not survive
for consideration.
Wherefore, it is respectfully prayed that this
Hon'ble Court may be pleased to take this memo
along with letter of Respondent No.3 dated
19.09.2025 on record, and dispose of the writ
petition as infructuous, in the interest of the justice
and equity."
The memo filed in the writ petition in W.P.
No.12691/2025 reads as under:
"1. The present writ petition has been
filed by the petitioner seeking, inter alia to quash
the show cause notice dated 27.03.2025 issued by
Respondent No.3 to the petitioner, seeking to
proceed de novo against the petitioner to classify
the loan account of the petitioner as fraudulent.
2. During the pendency of the above
writ petition, Respondent No.3 has issued letter
dated 19.09.2025 stating that the case of the
petitioner was put up to the Competent Committee
which examined the facts of the case and
concluded that the account of the petitioner to be
classified as 'no fraud'. Copy of the letter dated
19.09.2025 issued by Respondent No.3 is
produced herewith as Document No.1.
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NC: 2026:KHC:3894
WP No. 13230 of 2025
C/W WP No. 12691 of 2025
WP No. 16355 of 2025
HC-KAR
3. The Respondent No.3 vide its letter
dated 19.09.2025, having declared the loan
account of the petitioner to be classified as 'no
fraud', the present writ petition does not survive
for consideration.
Wherefore, it is respectfully prayed that this
Hon'ble Court may be pleased to take this memo
along with letter of Respondent No.3 dated
19.09.2025 on record, and dispose of the writ
petition as infructuous, in the interest of the justice
and equity."
The memo filed in the writ petition in W.P.
No.16355/2025 reads as under:
"1. The present writ petition has been
filed by the petitioner seeking, inter alia to quash
the show cause notice dated 27.03.2025 issued by
Respondent No.3 to the petitioner, seeking to
proceed de novo against the petitioner to classify
the loan account of the petitioner as fraudulent.
2. During the pendency of the above
writ petition, Respondent No.3 has issued letter
dated 19.09.2025 stating that the case of the
petitioner was put up to the Competent Committee
which examined the facts of the case and
concluded that the account of the petitioner to be
classified as 'no fraud'. Copy of the letter dated
19.09.2025 issued by Respondent No.3 is
produced herewith as Document No.1.
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WP No. 13230 of 2025
C/W WP No. 12691 of 2025
WP No. 16355 of 2025
HC-KAR
3. The Respondent No.3 vide its letter
dated 19.09.2025, having declared the loan
account of the petitioner to be classified as 'no
fraud', the present writ petition does not survive
for consideration.
Wherefore, it is respectfully prayed that this
Hon'ble Court may be pleased to take this memo
along with letter of Respondent No.3 dated
19.09.2025 on record, and dispose of the writ
petition as infructuous, in the interest of the justice
and equity."
The memo filed in each of these petitions are
taken on record, and the petitions stand disposed of
accordingly.
Sd/-
(B M SHYAM PRASAD)
JUDGE
AN/-