Neutral Citation No. - 2025:AHC:31715-DB Court No. - 39 Case :- WRIT - C No. - 3991 of 2025 Petitioner :- Saniwash Kumar Tiwari Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Mamta Tiwari,Rajesh Yadav Counsel for Respondent :- Ashish Pratap Singh,C.S.C. Hon'ble Siddhartha Varma,J. Hon'ble Dr. Yogendra Kumar Srivastava,J. 1. Heard learned counsel for the petitioner and learned counsel appearing for the Bank-respondents. 2. Even though this writ petition has been filed, challenging the impugned order dated 05.03.2021 passed by the respondent No. 2, the (Finance/Revenue), Ghaziabad in Case No. 01709 of 2021 (Computerized Case No. D202111280001709) [Dewan Housing Finance Corporation Ltd. Vs. Saniwash Kumar Tiwari and Others], under Section 14 of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, at the very outset, learned counsel for the petitioner states that no date for auction has been fixed as yet and, the petitioner is ready and willing to pay the entire outstanding in case he is permitted to do so in easy installments. 3. It is stated that the petitioner had taken a loan, but the same could not be repaid as per the terms of the agreement. As per the impugned order dated 05.03.2025, an amount for a sum of Rs.30,20,632/- is outstanding against the petitioner. 4. Learned counsel for the petitioner has, therefore, proposed to deposit 25% of the outstanding amount within a period of one month from today with an undertaking that the remaining amount shall be paid in next five equal monthly installments. 5. Learned counsel for the respondents-Bank states that the Bank is ready to accept the amount. He, however, states that the Bank has no objection, if the borrower is willing to clear the debt by paying 25% of the outstanding amount within a period of one month and the remaining amount in next five equal monthly installments. He also states that no date for auctioning the secured asset had been fixed. 6. In view of the above stand of the learned counsel for the parties, at this stage, without looking into the merits of the case, we deem it appropriate to afford an opportunity to the borrower to clear the debt. The petitioner shall, therefore, approach the Bank within ten days from today and the Bank shall provide the outstanding amount to be paid by the petitioner out of which, 25% shall be paid by him, within a period of one month from today. The remaining amount shall be deposited in next five equal monthly installments. 7. Needless to say that when the last installment is paid by the petitioner, the Bank shall inform the petitioner the interest amount and the other expenses which would have accrued by the last date of payment and it shall be paid along with the last installment. 8. We clarify that, if, the amount as has been promised to be paid by the petitioner is not deposited as per the undertaking then the Bank shall be at liberty to recover the debt pursuant to the impugned order in accordance with law. 9. It has been stated by the learned counsel for the bank that the possession of the secured property has been taken on 11.02.2025 but no third part right has been created. 10. We therefore provide that as and when the first installment being 25% of the total outstanding amount is paid by the petitioner, the possession of the secured property shall be handed over to the petitioner and till the deposit of the total outstanding amount, in the manner the petitioner has prayed for, no coercive measure shall be adopted against the petitioner, pursuant to the impugned order dated 05.03.2021. 9. With these observations, the instant writ petition is disposed of. Order Date :- 5.3.2025 Arun K. Singh [Dr. Y.K. Srivastava, J.] [Siddharth Varma, J.] Digitally signed by :- ARUN KUMAR SINGH High Court of Judicature at Allahabad Digitally signed by :- ARUN KUMAR SINGH High Court of Judicature at Allahabad