Disposed¶29

Mr. R Srinivas v. M/S Karvy Financial Services Limited

Constitution of India, Article 226 – SARFAESI Act, 2002

Karnataka HC9 Jun 2026WP/17270/2023

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Karnataka High Court, Bengaluru; WRIT PETITION NO. 17270 OF 2023 (GM-RES); decided 09.06.2026 by M.G.S. Kamal, J.; petitioners R Srinivas (proprietor of M/s. KRS Builders) and Geetha S; respondent M/s. Karvy Financial Services Ltd.; challenge to SARFAESI Act, 2002 recovery proceedings and to order dated 04.10.2021 in Crl.Misc.1421/2021 of XXX ACMM Bangalore; alternate/effective remedy under SARFAESI Act; Article 226; petition disposed of with liberty to pursue statutory remedy; no merits adjudication, no quantum.

What did the court decide?

Liberty reserved to the petitioners to avail the effective and alternate remedy provided under the SARFAESI Act, if so advised. ¶29

Mr. R Srinivas Vs M/S Karvy Financial Services… — Writ and Judicial Review | Karnataka HC (2026)

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NC: 2026:KHC:27627 WP No. 17270 of 2023

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HC-KAR

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU

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DATED THIS THE 9^TH DAY OF JUNE, 2026

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BEFORE

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THE HON'BLE MR. JUSTICE M.G.S. KAMAL

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WRIT PETITION NO. 17270 OF 2023 (GM-RES)

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BETWEEN:

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MR. R SRINIVAS S/O RAMAPPA MUNIVENKATAPPA, AGED ABOUT MAJOR, PROPRIETOR OF M/s.KRS BUILDERS 1/B, RAVINDRA NILAYA, 5^TH CROSS, 1^ST MAIN, ACHEMMA ROAD, RAMAPPA LAYOUT, PUTTENAHALLI, J P NAGARA, 7^TH PHASE, BANGALORE - 560 078.

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Digitally signed by SUMA B N Location: HIGH COURT OF KARNATAKA

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MRS GEETHA S W/O SRINIVAS R, AGED ABOUT MAJOR, NO 3, KATHA NO.46/1, WARD NO.187, PUTTENAHALLI VILLAGE, UTTARHALLI HOBLI, BANGALORE - 560 078.

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…PETITIONERS

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(BY SRI. RAMU S., ADVOCATE)

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AND:

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M/s.KARVY FINANCIAL SERVICES LIMITED HAVING BRANCH OFFICE AT KARVY MILLENNIUM BUILDING,

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3^RD FLOOR, EAST WING, NANAKRAMGUDA, GACHIBOWLI, HYDRABAD - 500 032.

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NC: 2026:KHC:27627 WP No. 17270 of 2023

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HC-KAR

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REP. BY ITS AUTHORISED OFFICER/MANAGER SRI SHRIRAMAKRISHNA RAO BAMARAJU, S/O D M C RAO, AGED ABOUT 45 YEARS

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…RESPONDENT

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(BY SRI. DILEEP D., ADVOCATE)

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THIS WRIT PETITION IS FILED UNDER ARTICLE 226 OF THE CONSTITUTION OF INDIA, PRAYING TO SET ASIDE THE ORDER DATED 04.10.2021, PASSED IN CRL.MISC.1421/2021, ON THE FILE OF XXX ACMM BANGALORE AT ANNEXURE-C AND ETC.

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THIS PETITION, COMING ON FOR PRELIMINARY HEARING IN 'B' GROUP, THIS DAY, ORDER WAS MADE THEREIN AS UNDER:

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CORAM: HON'BLE MR. JUSTICE M.G.S. KAMAL

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ORAL ORDER

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This petition is filed being aggrieved by the initiation of recovery proceedings by the respondent under the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act).

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Since effective and alternate remedy is provided under the SARFAESI Act, reserving liberty to avail such remedy, if so advised, petition is disposed of .

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SBN List No.: 1 Sl No.: 53

Mr. R Srinivas v. M/S Karvy Financial Services Limited

Case brief

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Mr. R Srinivas v. M/S Karvy Financial Services Limited

Case brief

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