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2016 (9) TMI 771 - MADRAS HIGH COURT

2016 (9) TMI 771 - MADRAS HIGH COURT - TMI - Recovery of dues - Wrong calculation of balance loan amount - ignorance of subsequent payments made by the petitioner - defferal loan of ₹ 1,70,25,455/- availed - payment of ₹ 1,45,17,406/- constituting 85% of the total amount made so far - petitioner liable to pay only a sum of ₹ 25,08,049/- demand of ₹ 59,82,269/- made from petitioner towards balance loan amount - two demand drafts brought by petitioner to show his bonafides .....

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in abeyance - petition disposed off - decided in favor of petitioner. - W.P(MD)No.16119 of 2016 and W.M.P(MD)No.11789 of 2016 - Dated:- 31-8-2016 - THE HONOURABLE MR.JUSTICE T.RAJA For the Petitioner : Mr.R.Veeramanikandan For the Respondents : Mr.R.Karthikeyan Additional Government Pleader ORDER The 2nd respondent/Assistant Commissioner(CT), Thirumangalam Assessment Circle, Madurai District, has issued the impugned proceedings dated 27.07.2016, calling upon the petitioner to pay a sum of ͅ .....

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049/-, the impugned order cannot be passed arbitrarily to pay a sum of ₹ 59,82,269/-. 3. Learned counsel for the petitioner would submit that despite financial crunch, overcoming all the difficulties and other situations, the petitioner is running the business with periodical payment. As per the original agreement, the repayment schedule commences from the month of July 2006 and would continue for next 9 years period namely, till July 2015. Although the petitioner started repayment of the .....

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