Manorama Kumari, Member - (1.) Learned Advocate Mr. Vishal Jathar i/b India Law Alliance present for Operational Creditor/ Petitioner. Learned Advocate Mr. Anip Gandhi with Learned Advocate Mr. Rashid Boatwala present for Respondent.
(2.) Respondent submitted that talks for settlement is going on. Learned Lawyer appearing for Respondent submitted that Respondent have already made a payment amounting Rs. 57 lacs as also admitted by the learned advocate appearing on behalf of petitioner. Today the Respondent handing over one demand draft to the learned lawyer appearing on behalf petitioner, amounting to Rs 30 lacs nfavour of "Pearl Insulation Pvt Ltd" dated 14.12.2017 bearing draft no. 151616.
(3.) Respondent submitted that due to some statutory constrain they are not in a position to pay the amount at a time. Hence requested for some time. The learned Lawyer further submitted that by 31.12.2017 they agreed to pay Rs. 30 lacs and by 31.01.2018 further remaining amounts shall be paid to the petitioner.;