9911796707
TMI Blog2014 (6) TMI 1005X X X X Extracts X X X X X X X X Extracts X X X X ..... the company was directed to pay Rs. 30 lakhs inclusive of interest and costs in ten equal monthly instalments. First instalment was to be paid on and from 1st June, 2013 but the said payment could not be honoured by the company in time. The payment of Rs. 6 lakhs has been made belatedly. Therefore, the agreement between the parties has failed and interest on the balance sum must be applied. Accord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the thirteenth instalment, let payment be made at Rs. 1.75 lakhs per month and iv) On and from the fourteenth instalment, let sums at Rs. 2 lakhs be paid by the company to the petitioning creditor till liquidation of outstandings. It is pertinent to note that the matter has come at the post advertisement stage and in the event of any default in payment the company shall be wound up forthwith ..... X X X X Extracts X X X X X X X X Extracts X X X X
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