- (1.) Heard on the fourth stay application.
(2.) Counsel for the petitioner submits that the due amount as settled under one time settlement would be paid if it is permitted in installments. It may carry interest. As per instructions of his client, he will pay a sum of Rs.3,00,000/- in the month of November, 2014 and remaining amount would be paid from the month of January, 2015 onwards. It would be in the installments of Rs.3,00,000/- per month.
(3.) Learned counsel for the respondents has shown doubt on the statement of the petitioner. It is submitted that cheques given by the petitioner were dishonoured by the bank on all he previous occasions. It is further stated that in one time settlement, the amount determined was Rs.51,70,000/- and after payment of around Rs.18,00,000/-, due amount as on 10/12/2013 was Rs.32,55,000/-. The interest on the said amount is also payable for subsequent period. If the petitioner is willing to make the payment, it may be through the Demand Draft and after giving undertaking to this effect before this Court. It is accordingly prayed that either the stay application be dismissed or if an order is passed to allow the petitioner to make payment in installments then, it should be with a conditional order.;