M.K. Shrawat, Member - (1.) The Corporate Debtor shall pay to the Applicant/Operational Creditor a sum of Rs. 29,37,711/- (Rupees twenty nine lacs thirty seven thousand seven hundred and eleven only) together with further interest on the principal sum of Rs. 24,14,273/- (Rupees Twenty four lacs fourteen thousand two hundred seventy three only) @ 10% per annum by post-dated cheques in the installments as provided in the table hereunder:- The Corporate Debtor has, upon execution hereof, handed over the post-dated cheques, mentioned in the table hereinabove, to the Applicant/Operational Creditor for the payment of the aforesaid installments and the Applicant/ Operational Creditor doth acknowledge receipt of the said post-dated cheques.
(2.) The Corporate Debtor has duly authorized Mr. Mr. Cyrus Bahandurji, a Director of the Corporate Debtor to file the present Consent Terms and who undertakes payment of the aforesaid amount. The said Consent Terms has been signed on behalf of the Applicant/ Operational Creditor by Mr. Devang Parikh, who is duly authorized partner of Applicant/Operational Creditor to do so on its behalf.
(3.) Once the entire payment in terms of clause 1 above is paid in full to the Applicant/Operational Creditor, the Applicant/Operational Creditor shall have no claim of whatsoever against the Corporate Debtor and the present Application/Petition shall stand disposed off as the claim of the Applicant/Operational Creditor shall stand satisfied.;