Neutral Citation No. - 2025:AHC-LKO:47333-DB Court No. - 2 Case :- WRIT - C No. - 7603 of 2025 Petitioner :- Shyam Ji @ Shyam Verma Respondent :- Uco Bank Thru. Branch Manager Gandhi Nagar Opposite Kotwali Dist. Unnao And Another Counsel for Petitioner :- Rinku Verma,Anjali Verma Counsel for Respondent :- Anand Kumar Singh Hon'ble Mrs. Sangeeta Chandra,J. Hon'ble Brij Raj Singh,J. 1. Heard learned counsel for the petitioner and Sri Anand Kumar Singh, learned counsel appearing on behalf of the Bank. 2. This petition has been filed by the petitioner with following main prayers:- "I. Issue a writ, order, or direction in the nature of Mandamus directing the Respondents not to take any coercive or recovery action under the SARFAESI Act or any other law for recovery of the loan amount from the Petitioner; II. Direct the Respondents to allow the Petitioner to clear the balance amount out of the total outstanding amount of Rs. 9,00,000/- (Rupees Nine Lakh) after adjusting the amounts already paid, by way of reasonable monthly instalments, as may be determined and fixed by this Hon'ble Court, keeping in view the Petitioner's current financial condition and past conduct, including the payments already made in good faith towards the settlement of the loan. III. Direct the Respondents to treat the Petitioner's loan account as a standard account upon the Petitioner's compliance with the installment plan as may be fixed by this Hon'ble Court, and further restrain the Respondents from taking possession auctioning any property of the Petitioner in the meantime. IV. The Petitioner further prays that the Respondent Bank may be directed to consider a fresh or revised One-Time Settlement (OTS) scheme, suited to the Petitioner's current financial capacity, so as to enable an amicable resolution and avoid coercive recovery proceedings." 3. It is the case of the petitioner that he wishes to make payment. He prays that the Bank be directed to extend the facility of One Time Settlement Scheme (OTS) to him. 4. Learned counsel appearing for the Bank has pointed out Page 18, Annexure-3 to the writ petition, which is a notice issued under Rule 8(6) read with Rule 9(1) of the SARFAESI Rules. 5. Having gone through Annexure-3 to the writ petition, we find that since action has already been initiated under the SARFAESI Act and the Rules, this Court cannot interfere in the matter. The petitioner has an alternative remedy to approach the Debts Recovery Tribunal by filing a Securitization Application. 6. The writ petition is dismissed on the ground of availability of statutory remedy. Order Date :- 13.8.2025 Sachin Digitally signed by :- SACHIN MEHROTRA High Court of Judicature at Allahabad, Lucknow Bench