/7085/2025 of MAMTA SINGH AND 2 OTHERS Vs DEBT RECOVERY TRIBUNAL THRU. PRESIDING OFFICER LKO. AND 3 OTHERS on 9 December 2025

1. Heard Sri Mayur Gautam, the learned counsel for the petitioners, Sri Ashwani Kumar Singh, the learned counsel for the Union of India and Sri Vinay Shanker, Advocate who has put in appearance on behalf of the opposite party no.2-Union Bank of India and filed his vakalatnama in the court, which is taken on record.

2. By means of the instant petition filed under Article 227 of the Constitution of India the petitioners have challenged the validity of an e-auction dated 04.11.2025 and has sought stay of the recovery proceedings till finalization of Securitization Application No.1050 of 2025 before the Debts Recovery Tribunal, Lucknow.

3. After advancing submissions at some length, the learned counsel for the petitioners and the petitioner no.1 who has appeared along with her counsel stated that the petitioners had deposited a sum of Rs.19,00,000/- with the opposite party no.2- Bank along with one time settlement proposal which has been declined by the bank without assigning any reason. The petitioners are still ready and willing to enter into a settlement and to show the bonafidies besides the amount of Rs.19,00,000/- already deposited with the bank, the petitioner no.1 would deposit a sum of Rs.3,00,000/- within a period of two weeks from today and she will Versus Counsel for Petitioner(s) : Mayur Gautam, Ashuja Gupta Counsel for Respondent(s) : A.S.G.I., Amit Sharma Mamta Singh And 2 Others .....Petitioner(s) Debt Recovery Tribunal Thru. Presiding Officer Lko. And 3 Others .....Respondent(s)

deposit a further sum of Rs.2,00,000/- within one month from today. The entire balance payable amount will be deposited by the petitioners within a period of six months from today.

4. The learned counsel for the opposite party-bank has no objection against the aforesaid proposal of the petitioner.

5. Accordingly, the writ petition is disposed of by providing that in case the petitioner deposits a sum of Rs.3,00,000/- with the opposite party-Bank within a period of two weeks from today and she deposits a further sum of Rs.2,00,000/- within a period of one month from today, no recovery proceedings shall be pressed against the petitioners. Upon deposit of the aforesaid amount the bank will issue a revised account statement to the petitioners. The entire balance payable amount will be deposited by the petitioners within a period of six months from today. It is clarified that the bank will not charge any further interest on the sums already deposited by the petitioner and will communicate the entire balance amount payable by the petitioner after six months, immediately upon making the deposit of second installment. In case the the petitioners deposit the amount as aforesaid no action in respect of the the recovery proceedings against them shall be taken for a period of two weeks. In case the petitioner makes deposit as aforesaid the recovery proceedings will further be kept in abeyance. In case the petitioners make failure in depositing the the amounts as aforesaid the benefit of this order shall not be available to the petitioners. December 9, 2025 Ram. A227 No. 7085 of 2025 2 (Subhash Vidyarthi,J.) Digitally signed by :- RAM SINGH High Court of Judicature at Allahabad, Lucknow Bench Digitally signed by :- RAM SINGH High Court of Judicature at Allahabad, Lucknow Bench