HIGH COURT OF JUDICATURE AT ALLAHABAD WRIT - C No. - 33974 of 2025 Court No. - 3 HON'BLE SAUMITRA DAYAL SINGH, J. HON'BLE INDRAJEET SHUKLA, J. 1. Heard Sri Rajeev Kumar Sharma, learned counsel for the petitioners and Sri Abhay Pratap Singh, 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 and no third party rights have intervened. 3. At the outset, petitioners have offered to pay the outstanding amount Rs. 29,17,458.69/- 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 petitioners shall clear the entire arrears due, within a period of five months i.e. not later than 15 March 2026. Versus Counsel for Petitioner(s) : Rajeev Kumar Sharma Counsel for Respondent(s) : Abhay Pratap Singh, C.S.C. Smt. Sita Srivastava And Another .....Petitioner(s) State of U.P. and Another .....Respondent(s) (ii) In discharge of dues, the petitioners shall deposit, by way of first installment, a sum of Rs. 9,17,459 /- with the respondent - Bank, on or before 15 November 2025. (iii) Upon deposit of Rs. 9,17,459/- by the petitioners, the respondent - Bank shall immediately communicate to the petitioners the exact amount being claimed from them including interest computation upto 15 February 2026 (on reducing balance). (iv) Petitioner shall thereafter deposit Rs. 5,00,000/- in three equal installments each payable on or before 15 December 2025, 15 January 2026 and 15 February 2026. (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 petitioners, 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 altered. 6. Any other amount that may have been deposited by the petitioners 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 petitioners to the terms of this order, no further amount can be recovered from the petitioners 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. WRIC No. 33974 of 2025 2 8. Petitioners undertake to abide by the terms of this order and not to press their objections and statutory proceedings under the SARFAESI Act. October 9, 2025 Abhilash WRIC No. 33974 of 2025 3 (Indrajeet Shukla,J.) (Saumitra Dayal Singh,J.) Digitally signed by :- ABHILASH SINGH High Court of Judicature at Allahabad