Karnataka High Court
WP/18235/2022 of TRIONES EXIM PVT LTD Vs KURUHINA SETTY SOUHARDA CREDIT COOPERATIVE LIMITED on 22 September 2026
CNR: KAHC010418232022 NC: 2026:KHC:52024 WP No. 18235 of 2022 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 22ND DAY OF SEPTEMBER, 2026 BEFORE THE HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM WRIT PETITION NO. 18235 OF 2022 (GM-DRT) BETWEEN: 1. TRIONES EXIM PVT LTD NO.2, 3RD
HC-KAR
IN THE HIGH COURT OF KARNATAKA AT BENGALURU
DATED THIS THE 22ND DAY OF SEPTEMBER, 2026
BEFORE
THE HON'BLE MR. JUSTICE SACHIN SHANKAR MAGADUM
WRIT PETITION NO. 18235 OF 2022 (GM-DRT)
BETWEEN:
1.
TRIONES EXIM PVT LTD
NO.2, 3RD CROSS, KASHINAGAR
YELACHENAHALLI
KANAKAPURA ROAD
REPRESENTED BY ITS
MANAGING DIRECTOR
A Y VINU KUMAR
S/O M G YADU KUMAR
AGE 40 YEARS
2.
A Y VINU KUMAR
S/O M G YADU KUMAR
AGE 40 YEARS
NO.1416, 1ST MAIN ROAD
2ND PHASE, GIRINAGAR
BANGALORE-560085.
…PETITIONERS
(BY SRI. N. SURESHA, ADVOCATE)
AND:
1.
KURUHINA SETTY SOUHARDA
CREDIT COOPERATIVE LIMITED
REGISTERED IN CO-OP REGISTRATION ACT, 1956
HEAD OFFICE NO.538, 1ST FLOOR
SIDDHIVINAYAKA TOWER, J P NAGAR
7TH PHASE, R B I COLONY
OP TO BRIGADE MILLENIUM
BANGALORE - 560078
Verified
HC-KAR
REPRESENTED BY AUTHORIZED OFFICER
2.
SMT HEMALATHA
W/O PUTTEGOWDA
AGE 50 YEARS
MUTHUGADAHALLI POST,MAYASANDRA HOBLI
TURUVEKERE TALUK, TUMKUR
KARNATAKA-572221.
3.
SRI PUTTEGOWDA
S/O MUDDEGOWDA
AGE 62 YEARS
MUTHUGADAHALLI POST
MAYASANDRA HOBLI, TURUVEKERE TALUK
TUMKUR, KARNATAKA-572221.
4.
SRI M G YADUKUMAR
S/O H GANGAIAH
AGE 65 YEARS
NO.1416, 1ST MAIN ROAD
2ND PHASE, GIRINAGAR
BANGALORE-560085.
5.
SRI A Y VIJAYA KUMAR
S/O M G YADU KUMAR
NO.702, BHEL LAYOUT EXTENSION
2ND STAGE, KEMPEGOWDA MAIN ROAD
NEAR PANCHAMUKHI APARTMENT
PATTANAGERE
RAJARAJESHWARINAGAR
BENGALURU-560098.
…RESPONDENTS
(R1 – SERVED AND UNREPRESENTED)
THIS WP IS FILED UNDER ARTICLE 226 OF THE
CONSTITUTION OF INDIA, PRAYING TO QUASH THE ORDER
DATED 24.08.2022 PASSED BY THE 32ND ADDITIONAL CHIEF
METROPOLITAN
MAGISTRATE
BENGALURU
IN
C.MIS
NO.2264/22 AT ANNEXURE-D.
Verified
HC-KAR
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
The petitioners, who are the borrowers and admitted defaulters, have challenged the order dated 24.08.2022 passed by 32nd Additional Chief Metropolitan Magistrate, Bengaluru in C.Misc.No.2264/2022 as per Annexure-D under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (for short, “the SARFAESI Act”).
2. Though the Hon’ble Apex Court has consistently held that no indulgence would be granted to default borrowers, when action is contemplated by the Secured Creditor under the provisions of SARFAESI Act, this Court vide order dated 14.09.2022 granted stay subject to depositing 30% of the amount due to the respondent – Bank under three installments.
Verified
HC-KAR
3. The learned counsel appearing for the respondent submits that the interim order is not complied with and not a single rupee is deposited.
4. The petitioners, taking the undue advantage of the conditional interim order granted by this Court, have virtually stalled the recovery proceedings for close to four years.
5. It is now well settled by a catena of decisions of the Hon’ble Supreme Court, consistently followed by this Court, that measures initiated by a secured creditor under the provisions of the SARFAESI Act are not ordinarily amenable to the extraordinary jurisdiction of this Court under Article 226 of the Constitution of India. Therefore, the writ petition is devoid of merits and accordingly, stands dismissed.
(SACHIN SHANKAR MAGADUM) JUDGE
NBM List No.: 1 Sl No.: 18
Verified