Shri P Srikrishna v. M/S Jaya Shanmuga Projects Pvt. Ltd.
Case brief
What is this about?
NC: 2026:KHC:8535 | Karnataka HC Bengaluru | Justice Ashok S. Kinagi | WP (GM-DRT) Nos. 26226 & 26309 of 2025, decided 11.02.2026 | Parties: P. Srikrishna and Smt. Lakshmi (petitioner agreement-holders); Jaya Shanmuga Projects Pvt Ltd (respondent No.1, borrower/mortgagor); Canara Bank Asset Recovery Management Branch-1 (respondent No.2) | Subject: challenge to SARFAESI e-auction sale notices dated 12.08.2025 (Annexure-H); mandamus sought restraining sale pending disposal of specific-performance suits O.S. Nos.5856/2018 & 5841/2018 (Addl. City Civil Judge, Bengaluru) | Key facts: S.A. Nos.156 & 157 of 2024 (DRT-II Bengaluru) rejected 25.06.2025; notices u/s 13(2) & 13(4) SARFAESI Act 2002; Crl. Misc. Petition No.5021/2022 (II Addl. CMM Court) allowed; sale certificate 11.09.2025; possession taken; sale concluded | Statutes: SARFAESI Act 2002 ss.13(2),(4); Constitution arts.226-227; proviso to s.54 Transfer of Property Act (raised by respondent bank's counsel) | Precedent: Viney Kumar Sharma v. Improvement Trust, SLP (Civil) No.24811/2025 (16.01.2026) — counsel reliance only, court did not engage | Outcome: both writ petitions dismissed, nothing surviving; related CP No.15880/25 noted | Amounts: Rs.45,00,000 agreed consideration; Rs.40,00,000 advance paid.