Dismissed

Smt. Saraswathi Srinivas, v. Hanumanth Nagar Co-Operative Bank Limited

Karnataka HC8 Apr 2026WP/31060/2024

Case brief

AI extract

What is this about?

Petitioners challenged the Magistrate's order under Section 14 of the SARFAESI Act handing possession of the secured asset to the bank. During the petition the bank completed an auction of the asset, rendering the challenge infructuous; the writ petition was disposed of without merits, with liberty to prosecute the pending RFA.

What the court decided

AI extract

Smt. Saraswathi Srinivas, Vs Hanumanth Nagar… — Banking and Recovery | Karnataka HC (2026)

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1 - NC: 2026:KHC:19339 WP No. 31060 of 2024

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HC-KAR

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IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 8^TH DAY OF APRIL, 2026

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BEFORE

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THE HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM WRIT PETITION NO. 31060 OF 2024 (GM-RES)

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BETWEEN:

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SMT. SARASWATHI SRINIVAS, W/O. SRI. SRINIVAS, CURRENTLY AGED ABOUT 63 YEARS R/AT FLAT NO.201, "SWIRLING WINDS", NO.437, MIGHS, 6TH CROSS, 7TH BLOCK, WEST JAYANAGAR, BENGALURU - 560 082.

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Digitally signed by SHARADAVANI B Location: High Court of Karnataka

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SRI. K. KRISHNA REDDY, S/O LATE P.SIDDA REDDY, CURRENTLY AGED ABOUT 58 YEARS, R/AT FLAT NO.202, "SWIRLING WIND", NO.437, MIGHS, 6TH CROSS, 7TH BLOCK, WEST JAYANAGAR, BENGALURU - 560 082.

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SRI. SRIMURTHY, S/O LATE L. NARASIMHA MURTHY @ LAKSHMI NARASIMHA MURTHY, CURRENTLY AGED ABOUT 45 YEARS FLAT NO.S-301, MOTHERS NEST, (SWIRLING WINDS), 6TH CROSS, 7TH BLOCK, JAYANAGAR WEST, BENGALURU - 560 070.

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…PETITIONERS

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(BY SRI. T. SESHAGIRI RAO, ADVOCATE AND SRI. SUNIL S. RAO, ADVOCATE)

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2 - NC: 2026:KHC:19339 WP No. 31060 of 2024

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HC-KAR

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AND:

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HANUMANTH NAGAR CO-OPERATIVE BANK LIMITED, REPRESENTED BY ITS AUTHORISED OFFICER, SRI. BOREGOWDA, AGED MAJOR OFFICE AT NO.7/29, K.P. PURNACHANDRA TEJSHAVI ROAD, 7TH MAIN ROAD, HANUMANTH NAGAR, BENGALURU - 590 019.

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SRI. K. LAKSHMI NARASIMIA MURTHY @ NARASIMHA MURTHY S/O N.KRISHNAPPA, AGED ABOUT 58 YEARS, R/O NO.252, 1ST FLOOR, 6TH MAIN, 4TH BLOCK, JAYANAGAR, BENGALURU - 560 011.

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SMT. K. LALITHA, W/O K. NARASIMHA MURTHY, AGED ABOUT 49 YEARS, R/O NO.252, 1ST FLOOR, 6TH MAIN, 4TH BLOCK, JAYANAGAR, BENGALURU - 560 011.

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SRI. K. BALAKRISHNA, S/O N.KRISHNAPPA, AGED ABOUT 68 YEARS, (ELDER BROTHER OF SRI. K. LAKSHMI NARASIMHA MURTHY @ NARASIMHA MURTHY) R/O NO.151, 26TH CROSS, 6TH BLOCK, JAYANAGAR, BENGALURU - 560 081.

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3 - NC: 2026:KHC:19339 WP No. 31060 of 2024

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HC-KAR

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SMT. JAYANTHI, W/O K. BALAKRISHNA, AGED ABOUT 58 YEARS, R/O NO.151, 26TH CROSS, 6TH BLOCK, JAYANAGAR, BENGALURU - 560 081.

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SRI. B. NAVEEN KRISHNA, S/O K. BALAKRISHNA, AGED ABOUT 38 YEARS, R/O NO.151, 26TH CROSS, 6^TH BLOCK, JAYANAGAR, BENGALURU - 560 081.

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SRI. D. DATTATRAYA, S/O V. DORESWAMY NAIDU, AGED MAJOR, R/O NO.79/4, 3RD MAIN ROAD, 3RD CROSS, V.S.GARDEN, BENGALURU - 560 018.

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…RESPONDENTS

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(BY SRI. VENUGOPAL M.S, ADVOCATE FOR R1; SRI. M.L. GOWDA, ADVOCATE FOR R2 TO R6)

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THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO ISSUE A WRIT IN THE NATURE OF CERTIORARI OR ORDER OR WRIT KEEPING THE ORDERS FOUND AT ANNEXURE-A, A1 AND A2 PASSED IN CRL. MISC. NO. 3215/2018, 3213/2018 AND 3214/2018 AT ABEYANCE UNTIL EFFECTUAL AND COMPLETE TERMINATION OF THE CIVIL DISPUTES BETWEEN THE PARTIES IN RESPECT OF THE SCHEDULE PROPERTIES AND ETC.,

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NC: 2026:KHC:19339 WP No. 31060 of 2024

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HC-KAR

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THIS PETITION, COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM

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ORAL ORDER

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The captioned writ petition is filed assailing the order passed under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, “SARFAESI Act”) by the learned Judicial Magistrate, whereby possession of the secured asset has been handed over to the secured creditor/respondent No.1.

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Pending consideration of the present petition, it transpires that respondent No.1, having taken possession of the secured asset, has proceeded to conduct an auction and the same stands concluded. In that view of the matter, the question of examining the rival contentions regarding the maintainability of the present petition, particularly in light of the earlier refusal in W.P.

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NC: 2026:KHC:19339 WP No. 31060 of 2024

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HC-KAR

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No.22938/2021 and the filing of the present successive petition, does not survive for consideration.

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Without delving into the merits of the case, this Court is of the considered view that, once the secured asset has been auctioned, the present writ petition does not survive for adjudication.

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However, it is made clear that this order shall not

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come in the way of the petitioner in prosecuting the pending appeal in RFA No.2563/2024.

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It is also relevant to note that the petitioner had the benefit of a conditional interim order passed by this Court and, in compliance thereof, has deposited a sum of Rs.40,87,500/-. Since this Court is not inclined to grant any further indulgence, the writ petition stands liable to be dismissed.

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Accordingly, the writ petition stands disposed of .

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NC: 2026:KHC:19339 WP No. 31060 of 2024

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HC-KAR

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The amount deposited shall be reimbursed to the petitioner by the Registry, upon due identification and in

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accordance with law.

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Sd/- (SACHIN SHANKAR MAGADUM) JUDGE

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HDK List No.: 1 Sl No.: 33

Smt. Saraswathi Srinivas, v. Hanumanth Nagar Co-Operative Bank Limited

Case brief

What is this about?

What the court decided

Smt. Saraswathi Srinivas, v. Hanumanth Nagar Co-Operative Bank Limited

Case brief

What is this about?

What the court decided

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