HIGH COURT OF JUDICATURE AT ALLAHABAD WRIT - C No. - 35520 of 2025 Court No. - 3 HON'BLE SAUMITRA DAYAL SINGH, J. HON'BLE INDRAJEET SHUKLA, J. 1. Heard Sri Ravindra Kumar Dwivedi, learned counsel for the petitioner and Sri B.P. Shukla, 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. However, no auction has taken place and third party rights have not intervened. 3. At the outset, petitioner has offered to pay the outstanding amount Rs. 14,77,262.50/- together with entire interest due, within a period of five months. This offer has been accepted by learned counsel for the respondent - Bank. Learned counsel for the bank states that at present, no auction is proposed to be held. 4. Accordingly, the writ petition is disposed of with the following directions: (i) The petitioner shall clear the entire arrears due, within a period of five months i.e. not later than March, 2026. (ii) In discharge of dues, the petitioner shall deposit, by way of first installment, a sum of Rs. 4,77,263/- with the respondent - Bank, on or before 30.11.2025. Versus Counsel for Petitioner(s) : Ravindra Kumar Dwivedi, Shubham Dwivedi Counsel for Respondent(s) : Birendra Prasad Shukla, C.S.C. Pradeep Kumar Pal .....Petitioner(s) State Of U.P. And 2 Others .....Respondent(s) (iii) Upon deposit of Rs. 4,77,263/- by the petitioner, the respondent - Bank shall immediately communicate to the petitioner the exact amount being claimed from him including interest computation up to February, 2026(on reducing balance). (iv) Petitioner shall thereafter deposit Rs. 5,00,000/- payable on or before 31.01.2026 by way of second installment. (v) The amount of remaining balance and interest being claimed by the respondent - Bank may be paid, by way of last installment, on or before 31.03.2025. 5. Subject to continued compliance of this 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. 6. 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. 7. 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. 8. Petitioner undertakes to abide by the terms of this order and not to press his objections and statutory proceedings under the SARFAESI Act. October 17, 2025 Abhilash WRIC No. 35520 of 2025 2 (Indrajeet Shukla,J.) (Saumitra Dayal Singh,J.) Digitally signed by :- ABHILASH SINGH High Court of Judicature at Allahabad