Neutral Citation No. - 2025:AHC-LKO:36197-DB Court No. - 2 Case :- WRIT - C No. - 5945 of 2025 Petitioner :- M/S Gareeb Nawaj Traders (Borrower ) Thru. Pro. Kamruddin Respondent :- Zonal Manager Indian Bank Zonal Office Gonda Distt. Gonda And Another Counsel for Petitioner :- Surya Kumar,Pushpendra Kumar Counsel for Respondent :- Anurag Srivastava Hon'ble Alok Mathur,J. Hon'ble Arun Kumar Singh Deshwal,J. Heard learned counsel for the petitioner and Shri Anurag Srivastava, learned counsel who has accepted notice on behalf of the respondent Bank. It has been submitted by the learned counsel for the petitioner that he has taken a loan for an amount of Rs.2000000/- on 16.9.2016 on behalf of M/S Garib Nawaz Traders under the MSME (Cash Credit) GECLS scheme. It has been submitted that the said amount could not be repaid in terms of the agreement between the parties as they were facing great financial crisis. It is in the aforesaid circumstances that proceedings under Section 13 of the SARFAESI Act were initiated by the respondent – bank and notice has also been issued on 21.5.2025 under Rule 6 (2) and Rule 8 ( 6 )of SARFAESI Act, 2002 relating to plot no. 551 min/1.0150 situated at village – Gajpur Grant, Tehsil Utraulla, District – Balrampur (Extent area 945 sq ft) and Plot No.205min/0.7990 situated at village Tenui Badhani, Chafa, Dumariyaganj, District Siddharth Nagar (Extent area 2170 sqft). At this stage learned counsel for the petitioner submitted that he does not dispute the fact that loan has not been repaid and petitioners are ready and willing to repay the entire amount as claimed by the respondent – bank in instalments. Learned counsel for respondent Bank on the basis of instructions submits that in case the petitioner is ready and willing to deposit the 50% of the outstanding amount forthwith and remaining within next three months, Bank would have no objection to the prayer made by the petitioner. Accordingly, with the consent of the parties, this petition is disposed of with the direction to the petitioner to deposit an amount of Rs.1300000/- within next two weeks, no further recovery proceedings shall be taken against the petitioner. He further shall pay the remaining outstanding amount within three months thereafter. The respondent Bank shall intimate the exact outstanding amount to the petitioner on the deposit of first instalment. It is made clear that in case the petitioner does not comply with the aforesaid directions benefit of this order shall not be available to him. On deposit of the first instalment no further coercive action shall be taken against the petitioner in pursuance of the notice issued by the respondent – bank. With the aforesaid the writ petition is disposed of. Order Date :- 23.6.2025 mks (Arun Kumar Singh Deshwal,J.) (Alok Mathur,J.) Digitally signed by :- MANISH SAXENA High Court of Judicature at Allahabad, Lucknow Bench