" - 1 - HC-KAR NC: 2026:KHC:10799 WP NO.5219 OF 2023 IN THE HIGH COURT OF KARNATAKA AT BENGALURU DATED THIS THE 21ST DAY OF FEBRUARY, 2026 BEFORE THE HON'BLE MR. JUSTICE M.G.S. KAMAL WRIT PETITION NO.5219 OF 2023 (GM-RES) BETWEEN: M/S ULTRA BRIGHT CEMENTS LIMITED (A COMPANY INCORPORATED UNDER THE COMPANIES ACT) CIN NO.U26919KA2021PLC143784 REISTERED OFFICE AT: NO.11/2, K.R. ROAD, BASAVANAGUDI, BENGLAURU - 560 004. REP. BY SRI. R.N. NAGARAJA AUTHORISED REPRESENTATIVE/PARTNER. …PETITIONER (BY SRI. KIRAN B.S., ADVOCATE (ABSENT)) AND: 1. THE AUTHORISED OFFICER M/S. ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED, OFFICE AT: THE RUBY, 10TH FLOOR, NO.29, SENAPATI BAPAT MARG, DADAR (WEST), MUMBAI - 400 028. 2. M/S. ASSET RECONSTRUCTION COMPANY (INDIA) LIMITED CIN NO.U65999MH2002PLC134884 (A COMPANY INCORPORATED UNDER THE COMPANIES ACT) REGISTERED OFFICE AT: THE RUBY, 10TH FLOOR, Printed from counselvise.com Digitally signed by ARUNKUMAR M S Location: HIGH COURT OF KARNATAKA - 2 - HC-KAR NC: 2026:KHC:10799 WP NO.5219 OF 2023 NO.29, SENAPATI BAPAT MARG, DADAR (WEST), MUMBAI - 400 028. REP. BY ITS MANAGING DIRECTOR. …RESPONDENTS THIS WRIT PETITION IS FILED UNDER ARTICLES 226 AND 227 OF THE CONSTITUTION OF INDIA, PRAYING TO SET- ASIDE THE SALE NOTICE DATED 18.10.2022 ISSUED UNDER SECTION 13(4) OF THE SARFAESI ACT, 2002 BY RESPONDENTS; DIRECT THE RESPONDENTS TO REFUND OF ALL MONIES ADVANCED BY THE PETITIONER UNDER THE SAID SALE NOTICE DATED 18.10.2022; PERMIT THE PETITIONER AND RESPONDENTS TO DISCUSS AND IF MUTUALLY ACCEPTABLE, ENTER INTO A PRIVATE TREATY FOR THE PURCHASE OF THE SAID FACTORY PROPERTIES, PROVIDED ALL ISSUES RELATED TO THE VALIDITY OF SECURITY INTERST ON THE SAID PROPERTIES ARE RESOLVED; ETC. THIS PETITION COMING ON FOR PRELIMINARY HEARING, THIS DAY, ORDER WAS MADE THEREIN AS UNDER: CORAM: HON'BLE MR. JUSTICE M.G.S. KAMAL ORAL ORDER The present petition is filed by the petitioner being aggrieved by the proceedings initiated by the respondents under the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. 2. Since, there is an alternative and efficacious remedy under Section 17 of the Securitisation and Printed from counselvise.com - 3 - HC-KAR NC: 2026:KHC:10799 WP NO.5219 OF 2023 Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, reserving liberty to the petitioner to avail such remedy as permissible under law, writ petition is dismissed. SD/- (M.G.S. KAMAL) JUDGE ARK List No.: 1 Sl No.: 7 Printed from counselvise.com "