- (1.) HEARD learned counsel for the petitioner and Sri Sudeep Kumar Singh, learned Counsel who appeared for the respondents. Proceedings are under the Securitization Act and thus this court is not to interfere as has been said by the Apex Court but learned counsel for the bank submits that if petitioner deposits some/reasonable amount pursuant to the citation within a period of one month to show his bonafide and remaining amount within a reasonable time then that may be accepted and there will be no objection from the side of the respondents. If this is materialised then interest of justice will be served. In view of the aforesaid, this petition is disposed of with the following directions-:- i) As consented and as accepted, petitioner is to deposit an amount of Rs.4,00,000/= pursuant to the citation directly in the concerned bank within a period of one month from today. ii)If petitioner deposits the above amount within the time so allowed then he is permitted to deposit the remaining amount directly in concerned Bank in six equal quarterly instalments. In calculating the arrears the amount (if any) already paid will be adjusted. iii) The first instalment may be deposited by 31st July, 2013, second instalment by 31st October, 2013, third by 31st January, 2014, fourth by 30th April, 2014, fifth by 31st July, 2014 and sixth by 30th September, 2014.. These deposits may be made before the branch of the Bank from where the loan was taken. In case instalments are deposited in the Bank then no recovery charges will be taken from the petitioner in view of judgment dated 09.01.2013 given in Writ C No. 56175 of 2011. iv) During period of deposit the recovery proceedings will be kept in abeyance. In case petitioner defaults in depositing any of the instalments within the above stipulated time, it will be open to the respondents to start recovery proceedings again by taking coercive process at once. v) Petitioner may file an application for supply of statement of account along with duly stamped self addressed envelope. In case any such application is filed, the concerned branch of the Bank will give the same to the petitioner after deposit of first instalment within fifteen days. vi) This order will not affect any auction if it has already taken place. In that event the petitioner may take appropriate legal proceedings to set aside the auction under U.P.Z.A. and L.R. Act and Rules ,1952 or file a suit in accordance with law. vii) It is clarified that this order will not be operative and will not come in way of recovery process in any manner, if any other writ petition has been filed before this Court against the recovery proceeding for the loan amount. viii) If any fact given from the side of the petitioner is found to be incorrect by the bank authorities, it will be open for them to move an application for modification/recall of the order. With the aforesaid writ petition stands disposed of. ;