Neutral Citation No. - 2025:AHC:21612-DB Court No. - 39 Case :- WRIT - C No. - 1393 of 2025 Petitioner :- Tarkeshwar Ojha Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Brij Lal Shukla Counsel for Respondent :- C.S.C. Hon'ble Siddhartha Varma,J. Hon'ble Dr. Yogendra Kumar Srivastava,J. 1. Heard learned counsel for the petitioner, learned Standing Counsel for the State and learned counsel appearing for the respondent no. 3. 2. By means of present writ petition, the learned counsel for the petitioner has prayed for quashing of the impugned notice dated 19.10.2024 passed under Section 14 of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter referred to as the "SARFAESI Act") passed by the respondent no. 2. Learned counsel for the petitioner seeks the indulgence of this Court for a direction that the petitioner be permitted to deposit the entire amount which is due from the petitioner, in case he is permitted to do so in easy instalments. 3. At the very outset learned counsel for the petitioner has proposed to deposit 30% of the outstanding amount by 17.02.2025 with an undertaking that the remaining amount shall be paid in next three equal monthly installments. 4. Learned counsel appearing for the respondent no. 3 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 30% of the outstanding amount by 17.02.2025 and remaining amount in next three equal monthly installments. 5. 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 by paying 30% of the outstanding amount by 17.02.2025 and the remaining amount in next three equal monthly installments. The outstanding debt be directed to be paid with up-to-date interest. 6. 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. 7. 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. 8. With these observations the writ petition is disposed of. Order Date :- 14.2.2025 M.S. Ansari (Dr. Y.K. Srivastava,J.) (Siddhartha Varma,J.) Digitally signed by :- MOHD SAQIB ANSARI High Court of Judicature at Allahabad