Neutral Citation No. - 2025:AHC:81885-DB Court No. - 40 Case :- WRIT - C No. - 15410 of 2025 Petitioner :- Mohd. Aqib Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Diwan Saifullah Khan Counsel for Respondent :- C.S.C.,Sanjai Singh Hon'ble Shekhar B. Saraf,J. Hon'ble Dr. Yogendra Kumar Srivastava,J. 1. Heard learned counsel appearing on behalf of the parties. 2. Counsel on behalf of the petitioner has stated that the petitioner had taken loan but the same could not be repaid as per the terms of the agreement. A notice dated 28.02.2025, for a sum of Rs.50,71,514/-, has been issued by respondent no.3 against the petitioner to which challenge has been made in the instant writ petition. However, at the outset, learned counsel for the petitioner states that consequent to the aforesaid notice the petitioner has deposited a lump sum amount of Rs.26,00,000/- and is ready and willing to deposit the remaining amount due against him in case he is permitted to do so in four equal monthly installments. 3. Counsel appearing on behalf of the respondent-bank submits that no date for auction has been fixed and the bank is willing to accept the due amount in easy installments. 4. Upon hearing the counsel appearing on behalf of the parties and after considering the material on record, we pass the following order:- (i) The initial payment of 25% of the total due amount after adjusting the deposit stated to have been made by the petitioner consequent to the notice dated 28.02.2025 issued under Section 13(4) of the SARFAESI Act, 2002, shall be made by the petitioner within a period of three weeks from date. The balance amount shall be paid by the petitioner in four equal monthly installments starting from August, 2025. (ii) No recovery charges shall be taken from the petitioner by the respondent authorities. (iii) Till the period prescribed for depositing the aforesaid amount, the recovery proceedings against the petitioner will be kept in abeyance. In case the petitioner defaults in depositing the initial amount or thereafter the installments within the stipulated period, it will be open for the respondents to start recovery proceedings against the petitioner. 5. With the aforesaid directions, the writ petition stands disposed of. Order Date :- 16.5.2025 Shahroz (Dr. Y.K. Srivastava,J.) (Shekhar B. Saraf,J.) Digitally signed by :- SHAHROJ ALAM High Court of Judicature at Allahabad