Dilip Gupta and Pankaj Mithal, JJ. The relief claimed in the present petition is for a direction upon the respondents Punjab National Bank, Muzaffarnagar to accept the loan amount in easy installments which may be fixed by the Court. 2. Perusal of the writ petition indicates that notice under Section 13(2) of the Securitization and Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002 (hereinafter referred as Act) was issued to the petitioner on 5th June, 2010 requiring him to deposit an amount of Rs.5,89,940.50/- with interest and other charges within 60 days. It appears that petitioner did not deposit the said amount and thereafter proceedings under Section 13(4) of the Act were taken against the petitioner. 3. This petition has now been filed in June, 2011 for a direction upon the respondents to accept the amount in installments. 4. Learned counsel for the petitioner has stated that the petitioner is ready to deposit 50% of the entire amount by 1st of July, 2011 and the remaining amount by 1st of August, 2011 and therefore, some protection may be given to the petitioner to save his valuable property. 5. Sri Sanjay Singh, learned counsel for the respondents Bank has submitted that sufficient time had already been given to the petitioner to deposit the amount but the petitioner did not avail the opportunity 6. We have considered the submission advanced by the learned counsel for the petitioner. 7. In view of the peculiar facts and circumstances of the case and in view of the fact that the petitioner undertakes to deposit 50% of the entire amount by 1st July, 2011 and the remaining 50% by 1st August, 2011 we dispose of the writ petition with the direction that the respondents shall not proceed with the auction scheduled to be held on 6th July, 2011 provided the petitioner deposits 50% of the entire amount by 1st of July, 2011. In case such amount is deposited the respondents shall postpone the auction scheduled to be held 6th July, 2011. However, the petitioner shall deposit the remaining 50% of the amount by 1st August, 2011. In case the petitioner commits default in payment of the aforesaid two installments the protection granted to the petitioner by the Court shall stand withdrawn and it shall be open to the respondents bank to proceed with the auction notice. 8. However, the petitioner shall deposit the remaining 50% of the amount by 1st August, 2011. In case the petitioner commits default in payment of the aforesaid two installments the protection granted to the petitioner by the Court shall stand withdrawn and it shall be open to the respondents bank to proceed with the auction notice. 8. The writ petition stands disposed of with the aforesaid observation and direction.