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1993 (2) TMI 228 - SUPREME COURTWhether the time for making the payment should be curtailed? Whether some interest should be directed to be paid by the purchaser? Held that:- the interest of the financial institutions, the interest of the workers who have since been re-employed by the purchaser and the fact that the purchaser has already invested substantial amounts to revive the company, we are of the opinion that certain modifications should be made in the number of instalments in which the balance consideration shall be paid. As after the payment of the aforesaid Rs. 52 lakhs due in the year 1992, the total balance consideration will be Rs. 5.80 crores. This amount shall be paid in full by the end of the year 1996 in equal bi-monthly instalments. The instalments shall be payable by the last day of February, April, June. August, October and December in each year. .This means that each instalment, excepting the last instalment, shall be in a sum of Rs. 24,16,000. The last instalment shall be in such sum as to make up the total shortfall payable on that date, i.e., Rs. 20,16,000. There shall be no other modification in the terms and conditions prescribed in the order under appeal including those relating to default and interest.
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