WP/3449/2026 of M/s KVICS Pharmaceuticals Company Ltd., Vs The Authorized Officer, on 5 February 2026

1. M/S KVICS PHARMACEUTICALS COMPANY LTD., REPRESENTED BY ITS MANAGING DIRECTOR, KALAKOTI SRINIVASA REDDY, R/O.D.NO.3-119, 2ND FLOOR, SYNDICATE COLONY, RAMAVARAPPADU, VIJAYAWADA RURAL MANDAL, NTR DISTRICT.

2. KALAKOTI SRINIVASA REDDY, S/O.SUBBA REDDY, MANAGING DIRECTOR OF M/S KVICS PHARMACEUTICALS COMPANY LTD., R/O.D.NO.48-11/1-2/N, CURRENCY NAGAR, OM NAMASIVAYA APARTMENTS, SF-6, NAMASIVAYA STREET, VIJAYAWADA URBAN, NTR DISTRICT.

3. KALAKOTI VIJAYA LAKSHMI, W/O.SRINIVASA REDDY, DIRECTOR OF M/S KVICS PHARMACEUTICALS COMPANY LTD., R/O.D.NO.48-11/1-2/N, CURRENCY NAGAR, OM NAMASIVAYA APARTMENTS, SF-6, NAMASIVAYA STREET, VIJAYAWADA URBAN, NTR DISTRICT.

4. KALAKOTI VASANTHA LAKSHMI, W/O.SUBBA REDDY, AGED ABOUT

YEARS, R/O.D.NO.48-11/1-2/N, CURRENCY NAGAR, OM NAMASIVAYA APARTMENTS, SF-6, NAMASIVAYA STREET, VIJAYAWADA URBAN, NTR DISTRICT.

...PETITIONER(S)

AND

1. THE AUTHORIZED OFFICER, UNION BANK OF INDIA, GOVERNORPET - 34640 BRANCH, D.No.33-21-23, MANJU TOWERS, BESIDE ICON PUBLIC SCHOOL, SITARAMAPURAM, ELURU ROAD, VIJAYAWADA - 520 002.

2. THE BRANCH MANAGER, UNION BANK OF INDIA, GOVERNORPET-34640 BRANCH, D.NO.33-21-23, MANJU TOWERS, BESIDE ICON

PUBLIC SCHOOL, SITARAMAPURAM, ELURU ROAD, VIJAYAWADA - 520 002.

...RESPONDENT(S): Counsel for the Petitioner(S):

1. KOGANTI NAGESWARA RAO Counsel for the Respondent(S):

1. The Court made the following:

THE HON’BLE SRI JUSTICE CHEEKATI MANAVENDRANATH ROY AND THE HON’BLE SRI JUSTICE TUHIN KUMAR GEDELA

WRIT PETITION No.3449 of 2026 O R D E R: (Per Hon’ble Sri Justice Cheekati Manavendranath Roy)

Heard learned counsel for the petitioners.

2. Challenging the sale notice dated 24.12.2025 issued by the respondent bank under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, ‘the SARFAESI Act’) and the Rules framed thereunder to sell the secured asset for realization of the loan amount availed by the principal borrower, the present writ petition has been filed by the principal borrower and guarantors.

3. The petitioners have got an efficacious remedy of filing an application under Section 17 of the SARFAESI Act before the Debts Recovery Tribunal, which is the appropriate forum constituted for redressal of the grievances under the SARFAESI Act. However, the petitioners, without exhausting the said remedy before the Tribunal, have invoked the writ jurisdiction of this Court. As the petitioners have got an efficacious remedy of approaching the Debts Recovery Tribunal, we are not inclined to entertain this writ petition.

4. Therefore, the writ petition is disposed of with a direction to the petitioners to approach the Debts Recovery Tribunal concerned, by way of filing an application under Section 17 of the SARFAESI Act, for redressal of their grievance.

As a sequel, interlocutory applications, if any pending, in this case shall stand closed. There shall be no order as to costs.

________________________________________ JUSTICE CHEEKATI MANAVENDRANATH ROY

______________________________________ JUSTICE TUHIN KUMAR GEDELA Date: 06.02.2026 IBL

THE HONOURABLE SRI JUSTICE CHEEKATI MANAVENDRANATH ROY AND THE HONOURABLE SRI JUSTICE TUHIN KUMAR GEDELA

WRIT PETITION No.3449 of 2026

Dt: 06.02.2026 IBL