Neutral Citation No. - 2025:AHC:12846-DB Court No. - 39 Case :- WRIT - C No. - 1975 of 2025 Petitioner :- Saqib Hussain And Another Respondent :- State Of U.P. And 3 Others Counsel for Petitioner :- Ram Brij Napit Counsel for Respondent :- Ramesh Kumar Shukla,C.S.C. Hon'ble Siddhartha Varma,J. Hon'ble Dr. Yogendra Kumar Srivastava,J. 1. Heard Sri Ram Brij Napit, learned counsel for the petitioners and Sri Ramesh Kumar Shukla, learned counsel for the respondent-Finance Company. 2. Learned counsel for the petitioners states that when the installments of the housing loan, which they had taken in the year 2019 from respondent no.4-Aadhar Housing Finance Limited, could not be paid by them and they had defaulted in the payment of monthly installments, then the Bank had initiated proceedings under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and also passed an order under Section 14 of the SARFAESI Act, 2002 on 12.12.2024. This order has been impugned in the instant writ petition. 3. Learned counsel for the petitioners has stated no date for selling the property in auction has been fixed as on date. He has further stated that the petitioners are ready and willing to deposit the outstanding amount, in case they are permitted to do so in easy installments. 4. At the very outset, learned counsel for the petitioner has proposed to deposit 25% of the outstanding amount within a period of ten days from today, with an undertaking that the remaining amount shall be paid in next four equal monthly installments. 5. Learned counsel appearing for the respondents no.4-Finance Company states that the Company is ready to accept the amount. He, however, states that the Company has no objection, if the borrowers are willing to clear the debt by paying 25% of the outstanding amount, within a period of ten days from today and remaining amount in next four equal monthly installments. 6. 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 borrowers to clear the debt by paying 25% of the outstanding amount within a period of ten days from today, and the remaining amount in next four equal monthly installments. The outstanding debt be directed to be paid with up-to-date interest. 7. Needless to say that when the last installment is paid by the petitioners, the Finance Company shall inform the petitioners 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. 8. We clarify that if the amount as has been promised to be paid by the petitioners is not deposited as per the undertaking, then the Finance Company shall be free to recover the debt pursuant to the impugned notice in accordance with law. 9. With these observations, the writ petition is disposed of. Order Date :- 24.1.2025 RKK/- (Dr Y K Srivastava, J) (Siddhartha Varma, J) Digitally signed by :- RAJ KUMAR KANNAUJIA High Court of Judicature at Allahabad