- (1.) That Shreya Life Sciences Pvt. Ltd. (hereinafter "the Respondent") admits and acknowledges that the principal amount of Rs. 5,00,00,000/- (Rupees Five Crores only) received by the Respondent under the Agreement dated May 29, 2009 is outstanding and due and payable to Polyset Plastics Private Ltd. (hereinafter "the Applicants).
(2.) That the Respondent agrees and undertakes to this Hon'ble Tribunal that the principal amount of Rs. 5,00,00,000/- (Rupees Five Crores only) shall be paid to the Applicants in twelve equal monthly installments the first of which will be paid by the Respondent to the Applicant on or before June 1, 2017
(3.) The Respondent shall on the date of these Consent Terms handover to the Applicants twelve post dated cheques of the sum of Rs. 41,66,667/- (Rupees Forty-one lacs Sixty-six thousand Six hundred and sixty-seven only) each drawn on ICICI Bank Ltd., Thakur Village Branch and bearing the following particulars:;