AI Structured Summary
Not yet generated for this judgment
No AI summary yet
Generate an eight-section analysis of this judgment — facts, issues, reasoning, ratio and a plain-language gist.
Judgment
5 paragraphs · 256 wordsPerused the contents of M A No. 336 of 2021. Also perused the stand of the respondent in its reply and heard learned counsel for the parties.
There was a development during the pendency of this petition. On account of reconciliation exercise, as per correspondent between the parties, an amount of Rs. 9,83, 84,661.00 was worked out as the outstanding for the period for which dues have been claimed in this petition. The correspondence (e-mail) contained in Annexure - A-2(Colly) to the MA discloses that the respondent proposed to clear the said amount @ Rs. 15 lakhs per month subject to consideration of the petitioner. Since the petitioner did not agree to the mode of payment of Rs. 15 lakhs per month which would take more than five years to clear the dues, the parties are still at logger heads with some reluctance on the part of the respondent to clear the amount arrived at urgently as per desire of the petitioner.
Settlement between the parties on account of reconciliation exercise is one of the accepted modes of resolution of disputes by this Tribunal. At times parties have some difficulty in clearing the outstanding dues in one go. In such a situation, this Tribunal grants accommodation by permitting reasonable instalments.
The respondent is granted two weeks' time to reconsider its proposal to pay the liability @ Rs. 15 lakhs per month. The reconsidered should be just and fair and in accordance with the trade practice.
Let the matter be listed under the same head on 15.12.2021.