Sri Nanjundeshwara Education Society v. M/S Protium Finance Limited
Case brief
What is this about?
WP No. 26895 of 2025 (GM-DRT), High Court of Karnataka, decided 04.09.2025 by B M Shyam Prasad, J. Petitioner: Nanjundeshwara Education Society (counsel M A Rajendra); respondents incl. M/s Protium Finance Limited (counsel Chandrashekhar S.N.). Challenge to DRT interim order dated 05.08.2025 in Dairy No.2057/2025 (SA No.178/2025, DRT-II Bengaluru) conditioning relief on Rs.30 lakh deposit; Rs.20 lakh deposited 21.08.2025, Rs.10 lakh unpaid; premises sealed by lender; lender offered regularization on Rs.15 lakh plus three EMIs in advance. Petition disposed of with directions: deposit Rs.15 lakh, break seal to restart school, post-dated cheques for three EMIs deposited simultaneously, DRT to act on any cheque default. Keywords: DRT interim order, sealing of premises, educational institution, loan regularization, EMIs, post-dated cheques, Articles 226/227.
What did the court decide?
Liberty to the petitioner to deposit Rs.15,00,000/- with the first respondent, with a direction to the first respondent to break open the seal to permit the school to recommence; the petitioner to deposit post-dated cheques for three EMIs simultaneously with that deposit; the DRT to consider appropriate orders in the pending SA No.178/2025 if there is default in honouring the cheques.