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Judgment
T.R. Ravi, J
The prayer in the writ petition is for permission to wipe off the liability to the 3rd respondent in easy instalments. The counsel for the 3rd respondent on instructions submits that an amount of ₹15,66,300/- is due. It is submitted that the 3rd respondent has no objection in permitting the petitioner to pay the amount in instalments provided the payments are made regularly, including future interest.
In the above circumstances, this writ petition is disposed of permitting the petitioner to pay the amount of ₹15,66,300/- with future interest in 12 equal monthly instalments, the 1st instalment falling due on or before 17.11.2022 and the subsequent instalments falling due on or before the 17th of the succeeding months. If the petitioner makes two consecutive defaults in payment of instalments, the respondents are at liberty to proceed with the coercive steps for recovery. Steps for recovery shall be kept in abeyance to facilitate the payment of instalment.