Sri Ravishankar P v. the Union Bank of India
Case brief
What is this about?
NC: 2025:KHC:30073 | WP No. 22796 of 2025 (GM-RES), High Court of Karnataka at Bengaluru, decided 04.08.2025 by B M Shyam Prasad J | Ravishankar P and Smt Sujatha P v. Union Bank of India, Kuvempunagar Branch, Mysore | Keywords: SARFAESI Act Section 13, Section 13(3), Section 17; Security Interest (Enforcement) Rules 2002 Rule 8; Articles 226 and 227 Constitution of India; e-auction sale notice dated 23.06.2025 (OR/E-AUCTION/050/2025-26); alternative remedy; one-time settlement; restructuring of loan account; secured asset alienation requiring creditor's written consent; dispossession; tenant's offer to purchase Flat No.108; petition disposed with liberty.
What did the court decide?
Petition disposed of with liberty to the petitioners to invoke the remedy under Section 17 of the SARFAESI Act and, regarding the tenant's proposed purchase of Flat No.108, liberty subject to the written-consent requirement of Section 13(3); no quashing of the sale notice or direction for one-time settlement/restructuring was granted.