Neutral Citation No. - 2025:AHC:31550-DB Court No. - 39 Case :- WRIT - C No. - 6536 of 2025 Petitioner :- M/S Vijay Trading Company Respondent :- State of U.P. and Another Counsel for Petitioner :- Ashish Kumar,Satish Chaturvedi Counsel for Respondent :- C.S.C. Hon'ble Siddhartha Varma,J. Hon'ble Dr. Yogendra Kumar Srivastava,J. 1. Heard Sri B.D. Mishra holding brief of Sri Satish Chaturvedi learned counsel for the petitioner, learned Standing Counsel and Sri B.N. Singh learned counsel appearing for the respondent- Bank. 2. By means of present writ petition, the petitioner has challenged the recovery citation dated 10.2.2025 issued under Section 13(2) of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002, by which the petitioner was directed to deposit an outstanding amount of Rs.17,24,848/-. 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 recovery citation dated 10.2.2025 for a sum of Rs. 17,24,848/- and other expenses had been issued against the petitioner. At the very outset, learned counsel for the petitioner has stated that the petitioner is ready and willing to deposit the amount, in case he is permitted to do so in easy instalments. 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 respondent-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 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 them 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 writ petition is disposed of. Order Date :- 5.3.2025 PK (Dr. Y.K. Srivastava,J.) (Siddhartha Varma,J.) Digitally signed by :- PRAVEEN KUMAR High Court of Judicature at Allahabad