Neutral Citation No. - 2025:AHC:80499-DB Court No. - 40 Case :- WRIT - C No. - 12135 of 2025 Petitioner :- M/S Rafat Paper Mills Pvt. Ltd. Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Somya Chaturvedi,Sr. Advocate Counsel for Respondent :- C.S.C. Hon'ble Shekhar B. Saraf,J. Hon'ble Dr. Yogendra Kumar Srivastava,J. Heard Ms. Somya Chaturvedi, learned counsel for the petitioner and the learned Standing Counsel appearing for the State- respondent. This is a writ petition under Article 226 of the Constitution of India wherein primarily the petitioner has prayed for following reliefs: "(i) issue a writ, order or direction in the nature of certiorari quashing the impugned order/notice 02.04.2025 issued by respondent no.3, along with all other and subsequent action of auction process of the mortgaged properties. (ii) issue a writ, order or direction in the nature of mandamus commanding the respondent no.3 to take an appropriate decision on the email dated 07.03.2025 filed by the petitioner, within stipulated time as fixed by this Court. (iii) Issue a writ, order or direction in the nature of mandamus restraining the respondent no.3 from further proceeding of E-auction process, in pursuance of impugned order/notice dated 02.04.2025." It is to be noted that a loan was granted to the petitioner in the year 1995 and the petitioner defaulted in the year 1996. Subsequently, a one time settlement offer was given to the petitioner on 23.12.2010. Clearly the petitioner chose not to avail one time settlement offer. Subsequently, the U.P. Financial Corporation has put the property in auction on 08.05.2025 and received an offer of Rs. 4.94 crores. However, in an expectation that they may receive a higher price, they have fixed one more date i.e. 19.05.2025 for auction of the said property. The reserve price in the said auction has been fixed as Rs. 4.93 crores. Having not availed the opportunity of one time settlement offer given to the petitioner in the year 2010 and the fact that the Corporation has received a valid offer of Rs. 4.94 crores in an earlier auction, the petitioner cannot now seek to redeem the entire loan along with interest at a lower price than the reserve price. The attempt being made by way of this writ petition to disturb the auction proceedings is vexatious and misconceived, and simply for the purpose of delaying the rights of the U.P. Financial Corporation for auctioning the said property. In our view, the petitioner has not come up with any argument in relation to any substantive offer having been made to the Bank, for the Bank to give up its right to auction the property. In light of the same, the writ petition is dismissed. Order Date :- 15.5.2025 Imroz (Dr. Y. K. Srivastava, J.) (Shekhar B. Saraf, J.) Digitally signed by :- MOHAMMAD IMROZ KHAN High Court of Judicature at Allahabad