HIGH COURT OF JUDICATURE AT ALLAHABAD WRIT - C No. - 31916 of 2025 Court No. - 3 HON'BLE SAUMITRA DAYAL SINGH, J. HON'BLE INDRAJEET SHUKLA, J. 1. Heard Sri Devendra Kumar Patel learned counsel for the petitioners, Sri Sahil Srivastava learned counsel for the bank and Sri Dinesh Kumar Misra learned counsel for the Union respondent. 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. 12,47,369 /- 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. 2,47,369 /- with the respondent - Bank, on or before 15 November 2025. Versus Counsel for Petitioner(s) : Devendra Kumar Patel Counsel for Respondent(s) : A.S.G.I., C.S.C., Dinesh Kumar Misra Kishor Kumar And Another .....Petitioner(s) Union Of India And 2 Others .....Respondent(s) (iii) Upon deposit of Rs. 2,47,369 /- 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 the remaining amount in four equal installments of Rs. 2,50,000/- each payable on or before 15 December 2025, 15 January 2026, 15 February 2026 and 15 March 2026 respectively. (v) The amount of interest being claimed by the respondent - Bank may be paid, by way of last installment, on or before March 2026. 5. 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. 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 15, 2025 Faraz WRIC No. 31916 of 2025 2 (Indrajeet Shukla,J.) (Saumitra Dayal Singh,J.) Digitally signed by :- FARAZ AHMAD High Court of Judicature at Allahabad