S.B. CIVIL WRIT PETITION NO.2613/2007. M/s.Sleen Water Proof Compound Pvt.Ltd. Vs. SBBJ Dholpur and anr. Date of order :- 28/1/2008. HON'BLE MR.JUSTICE M.N. BHANDARI Shri Madhav Mitra for the petitioner. Shri G.K. Garg for the respondents. **** The present writ petition has been filed to challenge the order at Annexure-9 dated 7/3/207, Annexure-3 notice dated 31/10/2005 and subsequent order dated 12/7/2006. Learned counsel for the petitioner has now come with the proposal that he is ready to pay all the debts with interest and the actual cost and expenses. However, necessary payments with interest can be made if petitioner is given facility to pay the said amount within 10 monthly installments and at this stage, petitioner will pay a lump sum of Rs.1,50,000/-. Learned counsel for the respondents submits that they cannot accept the proposal unless petitioner pays the entire sum in one go. In that regard, counsel for respondents even referred to the provisions of Section 13(4) of the Act. I have considered the submissions made by the learned counsel for the parties. SBCWP NO.2613/2007. ( 2 ) Looking to the readiness of the petitioner to pay entire amount with admissible rate of interest and the actual cost and expenses, it is better to direct for payment of the entire payment in installments because it will ultimately settle all the issues existing between the parties. Even as per Section 13(8) of the Act, petitioner can discharge his liabilities and in that case even if a property is auctioned but not transferred then, documents in that regard can be got released by the petitioner from respondents provided entire amount is paid. Looking to the aforesaid provisions and in the interest of justice, it will be proper to direct the petitioner to pay a sum of Rs.1,50,000/- within a period of 15 days from today and entire remaining amount which includes principal and updated interest till its actual payments in installments and all other charges, expenses and actual costs incurred by the respondents which otherwise may be notified to the petitioner within period of 15 days. After arriving at the total sum, same wold be divided in equal 10 installments after reducing a sum of Rs.1,50,000/- which otherwise SBCWP NO.2613/2007. ( 3 ) would be paid by the petitioner within two weeks. Monthly installments will start from 15 March, 2008. In case of default, the respondents would be at liberty to proceed ahead with the matter pursuant to the impugned orders. It goes without saying that if petitioner complies with the order then, respondents will not give effect to the auction or confirm the sale and even take the possession of the property. During the intervening period, symbolic possession will remain with the bank but physical possession would be kept with the petitioner. If entire due payment is made then, Bank will release the property documents in favour of petitioner. With the above, the writ petition is disposed of. (M.N. BHANDARI), J. anil