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Judgment
5 paragraphs · 206 wordsCounsel appearing for the petitioner has insisted upon the payment of the admitted amount by the respondent which is approximately Rs.5.47 crores.
Counsel appearing for the respondent submitted that in pursuance of the order passed by this Tribunal dated 16.12.2022, the respondent has to pay Rs.1 crore to the petitioner on or before 10.01.2023.
It is submitted by the counsel for the respondent that because of the financial constraints they have paid 50 lakhs to the petitioner by RTGS yesterday and for the remaining amount Post Dated cheque of Rs.50 lakhs is ready with the respondent and hence, the counsel for the respondent is seeking time to make the payment of Rs. 50 lakhs by the end of January 2023.
In view of these submissions, this B.P is adjourned to 24.2.2023.
We permit the respondent to make the payment of Rs.50 lakhs on or before 31.1.2023. Counsel appearing for the respondent has also tendered to this court proposal on behalf of the respondent which is signed by the authorised signatory. The same is taken on record and a copy of the said proposal has also been given to the counsel of the petitioner. This proposal will be appreciated by the petitioner in accordance with the law.