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2026 Supreme(Online)(Kar) 2357

THE HIGH COURT OF KARNATAKA
M.G.S. Kamal, J
M/S TUNGABHADRA PULP & BOARD MILLS LTD – Appellant
Versus
STATE BANK OF INDIA – Respondent


Advocates:
For the Appellants/Petitioners: SRI. PROF RAVI VARMA KUMAR, SRI. BRIJESH PATIL, SRI. V R SARATHY, SRI. V.M. SHEELVANT
For the Respondents: SRI. JAYAKUMAR S. PATIL, SRI. S.K. HEGDE, SRI. GANGADHAR J.M.

Table of Content
1. analyzing settlement offers and bank's obligations. (Para 1 , 9 , 10)
2. describing the petitions and their purposes. (Para 2 , 4 , 5)
3. legal standards for one time settlement claims. (Para 12 , 18 , 19)

ORAL ORDER

1. (a) W.P.No.32280/2018 is filed by the petitioner seeking following reliefs:

''i) Issue a writ in the nature of certiorari quashing the order dated 13.12.2017 in TUNGABHADRA/FILES/OTS passed by the passed by the Respondent No.1 Assistant General Manager, Asset Recovery Management Branch, Bengaluru Vide Annexure-J;

ii) DECLARE that the loan account of the Petitioner No. 1 stands fully and finally settled and closed by virtue of the payment made of the entire One Time Settlement Amount vide letter dated 18.10.2017 (Annexure G1) issued by the Petitioner and vide letter dated 24.10.2017 issued by the Respondent No. 1 (Annexure H).

ⅲ) Issue a writ in the nature of mandamus directing the Respondents to take all steps as required by law to release the mortgaged properties and to hand over all documents of title that are held by the Respondents within a time frame fixed by this Hon'ble Court.

iv) Grant such other reliefs as deemed fit in the circumstances of the c

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