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Hi guys,
I know this issue has been discussed couple of times in the past but I wanted to double check...

I have got naturalized recently and have not yet applied for British Passport. I do have Indian passport just now with me.

Now, I have got a very urgent trip planned next week to Vienna.

Can I travel on Indian Passport which got Schengen Visa ?
Will there be any problem entering to EU countries or coming back to UK ?

I am happy to pay fine 145 per trip when I return my Indian passport but I don't want to do anything illegal ?

Please advise ... Thanks.

You should be fine. I believe India allows 3 months of grace period of travel before surrender the passort. Carry your naturalisation certificate with you just in case (when coming back). You can either enter with ILR without saying anything to the IO (when back in the UK) or produce the certificate and explain you didn't apply for a passport yet.

Thanks a lot. It was freaking me out considering India allow only allows one nationality.