HIGH COURT OF JUDICATURE AT ALLAHABAD WRIT - C No. - 31348 of 2025 Court No. - 3 HON'BLE SAUMITRA DAYAL SINGH, J. HON'BLE INDRAJEET SHUKLA, J. 1. Heard Sri Sanjay Mishra, learned counsel for the petitioner and Ms. Shruti Gupta, Advocate, holding brief of learned counsel for the respondent - Bank. 2. Petitioner has committed default in repayment of secured debt to the respondent-Bank. Bank has initiated proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. However, no auction has taken place. 3. At the outset, petitioner has offered to pay the outstanding amount Rs. 15,80,038/- together with entire interest due, within a period of five months. This offer has been accepted by learned counsel for the respondent - Bank. 4. Accordingly, the writ petition is disposed of with the following directions: (i) The petitioner shall clear the entire arrears due, within a period of five months i.e. not later than 15 March 2026. (ii) In discharge of dues, the petitioner shall deposit, by way of first installment, a sum of Rs. 5,80,038/- with the respondent - Bank, on or before 15 November 2025. Versus Counsel for Petitioner(s) : Sanjay Mishra Counsel for Respondent(s) : C.S.C., Ramesh Kumar Shukla Inam Singh Yadav .....Petitioner(s) State of U.P. and Another .....Respondent(s) (iii) Upon deposit of Rs. 5,80,038/- by the petitioner, the respondent - Bank shall immediately communicate to the petitioner the exact amount being claimed from him including interest computation upto February, 2026 (on reducing balance). (iv) Petitioner shall thereafter deposit Rs. 5,00,000/- payable on or before 15 January 2026 by way of second installment. (v) The remaining amount together with interest claimed by the respondent - Bank may be paid, by way of last installment, on or before 15 March 2026. 5. Subject to continued compliance of this order being made by the petitioner, the auction proceedings may be kept in abeyance so however that the attachment shall continue but the secured asset may not be auctioned and physical possession may not be disturbed. 6. Any other amount that may have been deposited by the petitioner pursuant to the impugned demand notice, may be adjusted against the last deposit to be made under this order. 7. Subject to full compliance being made by the petitioner to the terms of this order, no further amount can be recovered from the petitioner either by way of legal expense and other charges as the entire amount has been paid under the directions issued under Article 226 of the Constitution of India. 8. Petitioner undertakes to abide by the terms of this order and not to press his objections and statutory proceedings under the SARFAESI Act. October 8, 2025 Abhilash WRIC No. 31348 of 2025 2 (Indrajeet Shukla,J.) (Saumitra Dayal Singh,J.) Digitally signed by :- ABHILASH SINGH High Court of Judicature at Allahabad