HIGH COURT OF JUDICATURE AT ALLAHABAD WRIT - C No. - 34924 of 2025 Court No. - 3 HON'BLE SAUMITRA DAYAL SINGH, J. HON'BLE INDRAJEET SHUKLA, J. 1. Heard Sri Anil Kumar Yadav, learned counsel for the petitioners, learned Standing Counsel for the State-respondent and Sri Sanjay Singh, learned counsel for the Bank. 2. Petitioner has committed default in repayment of secured debt to the respondent-Bank. Bank has initiated proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. Auction sale notice has been issued however, no auction has taken place and third party rights have not intervened. 3. In view of that development, primarily no interference may be offered on the merits of the dispute brought by the petitioner. However, learned counsel for the petitioner states that the petitioner is not interested in raising any dispute on merits of the recovery being pressed against the petitioner. In fact, the petitioner does not propose to file any objections/S.A. to challenge the action taken by the bank under SARFAESI Act 2002. 4. At the same time, petitioner offers to pay the entire outstanding amount Rs.47,73,777.90/- together with entire interest being claimed by the bank, within a period of four months. 5. Sri Sanjay Singh, learned counsel for the Bank states that in view of the offer made by the defaulter that he wishes to pay the entire amount, the bank is only interested in recovery of its money. Therefore, it is waiving his objection that it may have otherwise taken to the maintainability of the writ petition. Versus Counsel for Petitioner(s) : Ajeet Singh, Anil Kumar Yadav Counsel for Respondent(s) : Sanjai Singh, A.S.G.I., Krishna Gopal, Manoj Kumar Singh Mrs. Seema Tyagi And Another .....Petitioner(s) Union Of India And 3 Others .....Respondent(s) 6. In view of the consented order being passed, the petitioner has waived its right to avail statutory remedies. If any such remedy has already been sought, the same would terminate in view of the consented order passed in these proceedings. 7. Accordingly, the writ petition is disposed of with the following directions: (i) The petitioner shall clear the entire arrears due, within a period of four months i.e. not later than 15.03.2026. (ii) In discharge of dues, the petitioner shall deposit, by way of first installment, a sum of Rs.17,73,777.90/- with the respondent - Bank, on or before 15.11.2025. (iii) Upon deposit of Rs.17,73,777.90/- by the petitioner, the respondent - Bank shall immediately communicate to the petitioner the exact amount being claimed from him including interest computation up to 15.02.2026 (on reducing balance). (iv) Petitioner shall thereafter deposit the remaining amount in two equal installments of Rs.15,00,000/- each payable on or before 15.01.2026 & 15.03.2026 respectively. (v) The amount of interest being claimed by the respondent - Bank may be paid, by way of last installment, on or before 15.03.2026. 8. Subject to the continued compliance of the order being made by the petitioner, the auction proceedings may be kept in abeyance so however that the attachment shall continue but the secured asset may not be auctioned and physical possession may not be altered. 9. Any amount that may have been deposited by the petitioner pursuant to the impugned demand notice, may be adjusted against the deposit to be made under this order. 10. In case of default of any of the conditions as mentioned above, the present order shall stand automatically vacated and recovery proceedings shall revive from that stage. 11. Petitioner undertakes to abide by the terms of this order and not to press his objections and statutory proceedings under the SARFAESI Act. October 28, 2025 Mohit WRIC No. 34924 of 2025 2 (Indrajeet Shukla,J.) (Saumitra Dayal Singh,J.) Digitally signed by :- MOHIT KUMAR KUSHWAHA High Court of Judicature at Allahabad