Saroj and Another Vs State of U.P. and 2 Others

Court No. - 21

Case :- WRIT - C No. - 34555 of 2022

Petitioner :- Saroj And Another Respondent :- State Of U.P. And 2 Others Counsel for Petitioner :- Rajesh Kumar Dubey,Suresh Singh Gautam Counsel for Respondent :- C.S.C.,Krishna Mohan Asthana

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Hon'ble Manoj Kumar Gupta,J. Hon'ble Vikram D. Chauhan,J.

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The petitioners have challenged the sale notice dated 1.10.2022 issued by the respondent-Bank in exercise of power under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002.

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Learned counsel for the petitioners admits the liability of the petitioners and submits that the petitioners are ready to pay the amount in easy installments.

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Sri K.M. Asthana, learned counsel appearing for the respondent-Bank submits that the property has not been auctioned so far. He submits that respondent-Bank is ready to accept the money in installments, provided 25 percent of the total amount is deposited within one month and the remaining amount within next five months.

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Learned counsel for the petitioners agrees to the said proposal.

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Accordingly and in view of the agreement between the parties, the instant petition is disposed of as follows:-

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(a) The petitioners shall deposit 25 percent of the total amount due within one month.

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(b) The remaining amount will be deposited in two installments i.e. each of two and half months, so that the entire liability is cleared within next five months.

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In case of default, the aforesaid arrangement will stand discharged automatically and it shall become open to the respondent-Bank to proceed in the matter in accordance with law.

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Order Date :- 19.1.2023 VMA

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(Vikram D. Chauhan, J.) (Manoj Kumar Gupta, J.)

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Digitally signed by :- VISHWA MOHAN ARORA High Court of Judicature at Allahabad

Saroj and Another v. State of U.P. and 2 Others

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Saroj and Another v. State of U.P. and 2 Others

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