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Sri K S Jairaj Vs M/S Bank of Maharashtra — Company and Corporate | Karnataka HC (2026)

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Karnataka HC
2026
Sri K S Jairaj Vs M/S Bank of MaharashtraSri K S Jairaj v. M/S Bank of Maharashtra

Dismissed¶¶31-32

Sri K S Jairaj v. M/S Bank of Maharashtra

Karnataka HC17 Mar 2026WP/8891/2023

Case brief

AI extract

What is this about?

Karnataka HC (Bengaluru), WRIT PETITION NO. 8891 OF 2023 (GM-DRT), decided 17-03-2026 by Justice Lalitha Kanneganti. Guarantor K S Jairaj (Essjay Developers) sought declaration under Articles 226/227 that his guarantor liability and collateral properties were extinguished/discharged per Bank of Maharashtra letter dated 24.10.2013 (Clause F, Annex-B); respondents included Balaji Food Processing Industry, Prakash Gowda Kallver, N Arvind and R Vinay. Petition withdrawn via counsel's memo and dismissed as withdrawn with liberty to approach the Debts Recovery Tribunal; benefit of Section 14, Limitation Act 1963 granted; pending IAs closed. No precedent cited; no costs or quantum.

What did the court decide?

Writ petition dismissed as withdrawn; liberty to the petitioner to avail appropriate remedy before the Debts Recovery Tribunal; benefit of Section 14 of the Limitation Act, 1963; pending IAs closed.

Why is it important?

The writ petition is dismissed as withdrawn, giving liberty to the petitioner to avail appropriate remedy before the Debts Recovery Tribunal. ¶¶31-32

What the court decided

AI extract

Outcome

Writ petition dismissed as withdrawn; liberty to the petitioner to avail appropriate remedy before the Debts Recovery Tribunal; benefit of Section 14 of the Limitation Act, 1963; pending IAs closed.

Issue for consideration

Whether the petitioner's liability as guarantor and the properties offered as collateral security stood extinguished and discharged in terms of the letter dated 24.10.2013 (Clause F) issued by Respondent 1 (Bank of Maharashtra).

Ratio / Principle

The writ petition is dismissed as withdrawn, giving liberty to the petitioner to avail appropriate remedy before the Debts Recovery Tribunal.

Key takeaways

The petitioner shall have the benefit of Section 14 of the Limitation Act, 1963.ratio¶¶33-34
Pending interlocutory applications, if any, shall stand closed.ratio¶¶35

Detailed headnote1 paragraphs

Writ Petition (GM-DRT) No. 8891 of 2023, decided on 17.03.2026 by Hon'ble Smt. Justice Lalitha Kanneganti (High Court of Karnataka, Bengaluru): Petitioner, a proprietor claiming to be a guarantor, had filed the writ petition under Articles 226 and 227 of the Constitution of India praying for a declaration that his liability as guarantor and the properties offered as collateral security stood extinguished and discharged in terms of a letter dated 24.10.2013 (Clause F, No.AS38/ZOZLCC/ADVANCES/2013-14, Annex-B) issued by Respondent 1 Bank. Before orders, learned counsel for the petitioner filed a memo seeking permission to withdraw the writ petition with liberty to approach the appropriate forum. The Court took the memo on record, dismissed the writ petition as withdrawn, gave the petitioner liberty to avail appropriate remedy before the Debts Recovery Tribunal, extended to the petitioner the benefit of Section 14 of the Limitation Act, 1963, and closed pending interlocutory applications, if any. The substantive extinguishment question was not adjudicated.

A

1 -

NC: 2026:KHC:15679 WP No. 8891 of 2023

HC-KAR

IN THE HIGH COURT OF KARNATAKA AT BENGALURU

DATED THIS THE 17^TH DAY OF MARCH, 2026

BEFORE

THE HON'BLE SMT. JUSTICE LALITHA KANNEGANTI WRIT PETITION NO. 8891 OF 2023 (GM-DRT)

BETWEEN:

SRI K S JAIRAJ S/O SRI K SANNAPPA AGED ABOUT 45 YEARS PROPRIETOR ESSJAY DEVELOPERS GIRINAGAR 2^ND PHASE BSK 3^RD STAGE BANGALORE - 560 085

&PETITIONER

(BY SRI. SIRI RAJASHEKAR, ADVOCATE)

AND:

Digitally signed by SUVARNA T Location: HIGH COURT OF KARNATAKA

M/S BANK OF MAHARASHTRA REPT BY ITS MANAGER SRI. R. SUBBARAJU NO.100/D, 12TH CROSS IDEAL HOME SOCIETY RAJARAJESHWARINAGAR BENGALURU - 560 098

M/S BALAJI FOOD PROCESSING INDUSTRY NO.202, 2ND MAIN TEACHERS LAYOUT NAGARBHAVI I PHASE BANGALORE - 560 072 REGISTERED UNDER COMPANIES ACT, 1959 REPRESENTED BY ITS MANAGER

2 - NC: 2026:KHC:15679 WP No. 8891 of 2023

HC-KAR

SRI PRAKASH GOWDA KALLVER S/O SRI THAMMEGOWDA KALLVER AGED MAJOR PROPRIETOR BALAJIO FOOD PROCESING INDUSTRY R/AT NO.307, NO.5, VINUTHA VISTA NGEF LAYOUT ROAD NAGARBHAVI BANGALORE - 560 072

SRI N ARVIND FATHER NAME NOT KNOWN AGED MAJOR R/A NO.307, NO.5 VINUTHA VISTA NGEF LAYOUT ROAD NAGARBHAVI BANGALORE - 560 072

SRI R VINAY FATHER NAME NOT KNOWN AGED MAJOR R/A NO.67, 7TH MAIN ROAD ANNAPURNESHWARINAGAR BANGALORE-560091

&RESPONDENTS

THIS WP IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO DECLARING LIABILITY OF THE PETITIONER AS GUARANTOR AND PROPERTIES OFFERED AS COLLATERAL SECURITY STOOD EXTINGUISHED AND DISCHARGED IN TERMS OF LETTER DTD 24.10.2013 AS PER CLAUSE F VIDE NO.AS38/ZOZLCC/ ADVANCES/2013-14 AT ANNX-B ISSUED BY R-1.

THIS PETITION, COMING ON FOR ORDERS, THIS DAY, ORDER WAS MADE THEREIN AS UNDER:

3 -

NC: 2026:KHC:15679 WP No. 8891 of 2023

HC-KAR

CORAM: HON'BLE SMT. JUSTICE LALITHA KANNEGANTI

ORAL ORDER

A memo is filed by the learned counsel for the petitioner seeking permission to withdraw the writ petition, with liberty to approach appropriate forum.

The memo is taken on record.

Accordingly, the writ petition is dismissed as

withdrawn , giving liberty to the petitioner to avail appropriate remedy before the Debts Recovery Tribunal.

The petitioner shall have the benefit of Section 14

of the Limitation Act, 1963.

Pending IAs., if any, shall stand closed.

SD/(LALITHA KANNEGANTI) JUDGE

SMC List No.: 1 Sl No.: 3

Issues for consideration

1 issue framed by the court

AI extract

1.
Whether the petitioner's liability as guarantor and the properties offered as collateral security stood extinguished and discharged in terms of the letter dated 24.10.2013 (Clause F) issued by Respondent 1 (Bank of Maharashtra).medium confidence¶¶22

Statutes considered

3 provisions across 3 enactments

AI extract

Constitution of IndiaArticles 226, 227¶¶22
Limitation Act, 1963Section 14¶¶33-34
Companies Act, 1959COMPANIES ACT, 1959¶¶15

Procedural history

How this case reached the court

AI extract

Prior proceeding
Writ petition filed under Articles 226 and 227 of the Constitution of India praying to declare the petitioner's liability as guarantor and the properties offered as collateral security extinguished and discharged in terms of letter dated 24.10.2013 (Clause F, No.AS38/ZOZLCC/ADVANCES/2013-14, Annex-B) issued by Respondent 1.¶¶22
Prior proceeding
Memo filed by learned counsel for the petitioner seeking permission to withdraw the writ petition with liberty to approach the appropriate forum.¶¶29

Parties & counsel

AI extract

petitioner
Sri K S Jairaj S/o Sri K Sannappa, aged about 45 years, Proprietor, Essjay Developers, Bangalore¶¶9
Siri Rajashekar
respondent
M/s Bank of Maharashtra, repd. by its Manager Sri R. Subbaraju, Bengaluru¶¶14
respondent
M/s Balaji Food Processing Industry, Bangalore¶¶15
respondent
Sri Prakash Gowda Kallver, Proprietor, Balajio Food Procesing Industry, Bangalore¶¶18
respondent
Sri N Arvind, Bangalore¶¶19
respondent
Sri R Vinay, Bangalore¶¶20

Coram

AI extract

Hon'ble Smt. Justice Lalitha Kannegantiauthor¶¶27

Case details

As recorded by the court registry

Court: Karnataka HC
Decided on: 17 Mar 2026 · March
Registered: 18 Apr 2023
Case no.: WP/8891/2023
CNR: KAHC010209212023
Topic: Company and Corporate
Bench: Lalitha Kanneganti
Disposal: DISMISSED
Case type: WRIT PETITION NO. 8891 OF 2023 (GM-DRT)

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Cite this judgement

Sri K S Jairaj v. M/S Bank of Maharashtra, WP/8891/2023 (KA), decided on 17 March 2026.

The High Court of Karnataka publishes no neutral citation for this judgement — cite it by case number and date of decision.

Statutes3

Constitution of IndiaArticles 226, 227
Limitation Act, 1963Section 14
Companies Act, 1959COMPANIES ACT, 1959

View all statutes

Procedural history2

Writ petition filed under Articles 226 and 227 of the Constitution of India praying to declare the petitioner's liability as guarantor and the properties offered as collateral security extinguished and discharged in terms of letter dated 24.10.2013 (Clause F, No.AS38/ZOZLCC/ADVANCES/2013-14, Annex-B) issued by Respondent 1.
Memo filed by learned counsel for the petitioner seeking permission to withdraw the writ petition with liberty to approach the appropriate forum.

View full history

Bench / Coram

Hon'ble Smt. Justice Lalitha Kanneganti

Parties & counsel