SANJIB BANERJEE,J - (1.) The Court : The company is represented and says that upon the company admitting the principal claim of the petitioning creditor ofabout Rs.4.66 lakh, an initialpaymentof about Rs.46,000/ - has been tendered to the creditor.
(2.) Thepartiesnow agreethata total furthersumof Rs.4.50 lakh, including interest and costs, will be paid by the company to the petitioning creditor in ten instalments in full and final settlement of the petitioner's claim herein. Accordingly,C.P.No.671 of 2015is admittedforthe balanceprincipalsum ofRs.4,24,468/ -togetherwithinterest thereon at the rate of 8% per annum from the date of the statutory notice.If, however, the company pays off the agreed amount of Rs.4.50 lakh in ten equal or nearly equal monthly instalments beginning December 31, 2015 and payable by the last day of the ninesucceeding months, the petitionwill remainpermanently stayed.
(3.) In default of payment of any instalment, the petition will be advertised once in 'The Statesman' and once in 'Bartaman.' The advertisements should indicate that the matter will appear before Court on the first available working day after the expiry of a period of four weeks from the date of the publications being made.;