Karnataka High Court
Mr Ashwath M L vs M/S Manapuram Home Finance Ltd on 23 June, 2025
Author: S Sunil Dutt Yadav
Bench: S Sunil Dutt Yadav
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NC: 2025:KHC:21757
WP No. 16967 of 2025
HC-KAR
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 23RD DAY OF JUNE, 2025
BEFORE
THE HON'BLE MR JUSTICE S SUNIL DUTT YADAV
WRIT PETITION NO. 16967 OF 2025 (GM-RES)
BETWEEN:
1. MR ASHWATH M L
S/O LOKESH
AGED ABOUT 37 YEARS
R/A PROPERTY NO 2/B
MOODALAKOPPALU VILLAGE
K R NAGARA TALUK
MYSURU DISTRICT.
2. SMT JYOTHI A
W/O MR ASHWATH
AGED ABOUT 30 YEARS
R/AT PROPERTY NO 2/B
MOODALAKOPPALU VILLAGE
K R NAGARA TALUK
MYSURU DISTRICT.
Digitally
signed by 3. MR. PAPEGOWDA
VIDYA G R S/O LATE MR KARIGOWDA
Location: AGED ABOUT 59 YEARS
HIGH RA/T GUDUGANAHALLI
COURT OF
KARNATAKA KR PET TALUK
MANDYA DISTRICT.
...PETITIONERS
(BY SRI. HRITHIK GOWDA K V., ADVOCATE)
AND:
1. M/S MANAPURAM HOME FINANCE LTD
HAVING ITS BRANCH OFFICE AT
SARASWATHIPURAM, MYSURU
REPRESENTED BY ITS
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NC: 2025:KHC:21757
WP No. 16967 of 2025
HC-KAR
MR MANCHAIAH M
S/O MR MANCHAIAH
AGED ABOUT 40 YEARS
...RESPONDENT
(BY SRI. B S MAHENDRA., ADVOCATE AND
SRI. ANISH JOSE ANTONY, ADVOCATE)
THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF
THE CONSTITUTION OF INDIA PRAYING TO QUASH THE
SARFESI 14 OF THE ORDER DATED 04-06-2025 UNDER
SECTION SECURITISATION AND RECONSTRUCTION OF
FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY
INTEREST ACT, 2002 IN CRL.MISC NO.101/2025 BEFORE THE
HONBLE II ADDITIONAL SENIOR CIVIL JUDGE AND CJM AT
MYSURU VIDE ANNEXURES A.
THIS PETITION, COMING ON FOR PRELIMINARY
HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER:
CORAM: HON'BLE MR JUSTICE S SUNIL DUTT YADAV
ORAL ORDER
The petitioners have sought for a direction to set aside the order dated 04.06.2025 passed under Section 14 of the SARFAESI Act in Crl.Misc.No.101/2025 before the II Additional Senior Civil Judge and CJM at Mysuru.
2. Learned counsel appearing for the respondent Bank upon appearance has filed a copy of the communication addressed to the petitioners. It is stated that, if an amount of Rs.3.00 lakh is paid, the loan would be 'standardized' and -3- NC: 2025:KHC:21757 WP No. 16967 of 2025 HC-KAR regularized and the petitioners can then continue to pay the EMIs as is fixed.
3. In light of the said submission, the petition is disposed off and in the event, the petitioners were to pay a sum of Rs.3.00 lakh within a period of three weeks, the respondent Bank is to take necessary steps to regularize the loan account of the petitioners.
4. Needless to state that, in light of the stand of respondent Bank, no precipitative steps be taken pursuant to the order at Annexure-'A'. All contentions, including as regards the impugned order kept open. The contention relating to calculation of amount due are kept open to be sorted out between the parties.
5. It is also needless to state that, if no action is taken within the time stipulated herein, the respondent Bank is at liberty to proceed further against the petitioners.
Sd/-
(S SUNIL DUTT YADAV) JUDGE VGR