Neutral Citation No. - 2025:AHC:22309-DB Court No. - 39 Case :- WRIT - C No. - 4420 of 2025 Petitioner :- Devesh Kumar Srivastava Respondent :- Union Of India And 2 Others Counsel for Petitioner :- Rajesh Kumar Nishad Counsel for Respondent :- A.S.G.I.,Ramesh Kumar Shukla 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 demand notice dated 23.7.2024 and the notice under Section 13 (4) 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. A demand notice dated 23.7.2024 for a sum of Rs.35,40,853/- and other expenses had been issued 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 four 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 four 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 three 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 four 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 notice in accordance with law. 9. With these observations, the instant writ petition is disposed of. Order Date :- 17.2.2025 RKK/- (Dr Y K Srivastava, J) (Siddhartha Varma, J) Digitally signed by :- RAJ KUMAR KANNAUJIA High Court of Judicature at Allahabad