Neutral Citation No. - 2025:AHC:113659-DB Court No. - 3 Case :- WRIT - C No. - 18191 of 2025 Petitioner :- M/S Sharda Corporation And 4 Others Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Meena Mishra Counsel for Respondent :- C.S.C.,Sanjai Singh Hon'ble Shekhar B. Saraf,J. Hon'ble Praveen Kumar Giri,J. 1. Heard learned counsel appearing on behalf of the petitioners, learned Standing Counsel appearing on behalf of the State respondent and learned counsel appearing on behalf of the respondent Bank. 2. Counsel on behalf of the petitioners has stated that the petitioners had taken the facility of Cast Credit as well as Guaranteed Emergency Credit Line but the same could not be repaid as per the terms of the agreement. A sale notice dated April 17, 2025 as well as possession notice dated April 3, 2025 have been issued by the respondents to which challenge has been made in the instant writ petition. Learned counsel appearing for the petitioners states that the petitioners are ready and willing to deposit the amount due against them in case they are permitted to do so in easy installments. 3. Counsel appearing on behalf of the respondent Bank submits that the Bank is ready to accept the amount, which is due i.e. Rs.48,62,975.28, if the petitioners deposit the same in monthly installments. 4. Upon hearing the counsel appearing on behalf of the parties and after considering the material on record, we are of the view that the appropriate direction should be issued. 5. Accordingly, we direct that the initial payment of Rs.20,00,000/- of the aforementioned due amount shall be made by the petitioners on or before July 29, 2025. On initial payment being made, the respondent Bank shall provide the statement of account to the petitioner forthwith. Thereafter, the balance amount shall be paid by the petitioner in three equal monthly installments starting from September, 2025. 6. Till the period prescribed for depositing the aforesaid amount, the further proceedings against the petitioners pursuant to impugned notices will be kept in abeyance. However, we make it clear that in case the petitioner defaults in depositing the initial amount or thereafter the installments within the stipulated period, it will be open for the respondent Bank to proceed against the petitioner in accordance with law. 7. With the aforesaid directions, the writ petition is disposed of. Order Date :- 15.7.2025 Kuldeep (Praveen Kumar Giri, J.) (Shekhar B. Saraf, J.) Digitally signed by :- KULDEEP SINGH High Court of Judicature at Allahabad