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Judgment
7 paragraphs · 153 wordsT.R. Ravi, J.
The prayer in the writ petition is for permission to the petitioner to pay off the amounts outstanding to the respondent in easy instalments.
The counsel for the respondent on instructions submits that an amount of Rs.22,21,762/- is outstanding.
In the above circumstances, this writ petition is disposed of with the following directions:-
i) The petitioner shall pay the outstanding amount of Rs.22,21,762/- along with future interest in fifteen equal monthly instalments, the 1st instalment falling due on or before 29.03.2023 and the subsequent instalments falling due on or before the 29th day of the succeeding months;
ii) If the petitioner makes two defaults in the payment of the instalments as directed above, the respondent is at liberty to continue with coercive steps for recovery;
iii) The coercive steps initiated shall be kept in abeyance to facilitate the petitioner to pay the amounts in instalments as directed above.