HIGH COURT OF JUDICATURE AT ALLAHABAD WRIT - C No. - 36347 of 2025 Court No. - 3 HON'BLE SAUMITRA DAYAL SINGH, J. HON'BLE INDRAJEET SHUKLA, J. 1. Heard Sri Rajesh Kumar Singh, learned counsel for the petitioners; Sri Habib Ahmad, learned counsel for the bank and Sri Chandra Prakash, learned counsel for the Union of India. 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 notice has been published and the auction is scheduled to be held on 29.10.2025. However, no third party rights have been intervened as of now. 3. Learned counsel for the petitioners states, against the total defaulted amount Rs. 1,11,51,521/- claimed vide notice dated 08.05.2025 issued under Section 13(2) of the Act, the petitioner has repaid to the bank a major amount. The balance default exists of Rs. 24,97,936/- which is claimed as outstanding. Even that amount may be deposited within reasonable time, that may be granted to the petitioners. 4. In such facts, we had required learned counsel for the bank to Versus Counsel for Petitioner(s) : Rajesh Kumar Singh, Vineet Vikram Counsel for Respondent(s) : A.S.G.I., Habib Ahmad Smt. Ratna Singh And Another .....Petitioner(s) Union Of India And Another .....Respondent(s) obtain instructions from the bank if the bank is in a position to grant some concession to the petitioners and enable them to pay the amount within one month. 5. Accordingly, the matter has been again taken in the afternoon session. Learned counsel for the bank states that if the petitioner were to deposit Rs. 12,00,000/- on or before 27.10.2025 and the balance amount together with further interest, legal expense and expenses for publication of auction notice by 15.11.2025, the bank would have no objection to the same. 6. On the other hand, learned counsel for the petitioners prays for some more accommodation of few days both to make initial and final deposit. 7. Having heard learned counsel for the parties and having perused the record, prima facie, we find, in the first place, against the demand notice in excess of Rs. 1,11,51,521/- issued in the month of May 2025, the petitioners have deposited substantial amount approx. Rs. 80,00,000/- within five months. Second, even for the balance amount, the bank is open to accept that amount without pressing coercive measure any further. 8. As to the exact timelines, we note, the festival of Diwali is near, therefore, the request of the petitioners to grant time upto 27.10.2025 to deposit the first installment of Rs. 12,00,000/- is reasonable. The proposed auction is to be held on 29.10.2025. Therefore, it would be clear to the bank on 27.10.2025, if the petitioners are serious about the offer made before this Court. 9. Third, in view of the above, we further note, if the petitioners were WRIC No. 36347 of 2025 2 to be granted time to pay the remaining of the balance amount by 30.11.2025, no disadvantage would incur to the bank as may impress on us to dismiss the writ petition for reason of inability of the petitioners to pay the balance amount by 15.11.2025, as proposed by the bank. To the extent the petitioner would expose themselves to the interest liability for the further 15 days being prayed for, we find no reason to reject the prayer made. 10. Accordingly, in view of the above settlement reached between the parties, we find, room exists for us to exercise our discretion in the peculiar facts of the present case. Accordingly, we provide, subject to the petitioners depositing Rs. 12,00,000/- on or before 27.10.2025, the auction proceeding proposed to be held on 29.10.2025 may be kept in abeyance till 30.11.2025. Further, subject to the petitioners depositing first installment of Rs. 12,00,000/-, the respondent bank shall communicate the exact balance amount outstanding i.e. Rs. 12,97,936/- together with interest, legal expense and expense for publication of auction notice. The petitioner undertakes to deposit that amount by 30.11.2025. 11. Subject to the above compliance being made by the petitioners, 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. 12. Any amount that may have been deposited by the petitioners pursuant to the impugned demand notice, may be adjusted against the deposit to be made under this order. 13. In case of default of any of the conditions as mentioned above, WRIC No. 36347 of 2025 3 the present order shall stand automatically vacated and recovery proceedings shall revive from that stage. 14. Petitioners undertake to abide by the terms of this order and not to press their objections and statutory proceedings under the SARFAESI Act. 15. With the above observation, present writ petition is disposed of. October 17, 2025 Abhilash WRIC No. 36347 of 2025 4 (Indrajeet Shukla,J.) (Saumitra Dayal Singh,J.) Digitally signed by :- ABHILASH SINGH High Court of Judicature at Allahabad