Alok Sharma, J. - (1.) Heard Mr.Ravi Chirania, counsel for the petitioner and Mr.Virendra Lodha, Senior Counsel with Mr.Jai Lodha counsel for the respondent.
(2.) As required by this court, the Managing Director of the Rajasthan Urja Vikas Nigam Limited (RUVNL), Mr.R.K. Srivastava present in court. On his instructions, Mr.Virendra Lodha counsel for the respondent-RUVNL submitted at the outset that 50% of the LPS due to the petitioner will be paid within a period of one month from today and the remainder 50% appropriately computed with will be paid within a period of one year thereafter. It has been submitted that the delay in the payment of due LPS has been for the reason of financial constraints being faced by the respondent-RUVNL.
(3.) Mr.Ravi Chirania, counsel for the petitioner submitted that the petitioners are satisfied with payment of 50% LPS within one month as stated. He however submitted that one year further period for payment of remainder LPS due will cause great financial hardship to the petitioners as which the respondents they are small entities with limited access to working capital while the respondent-RUVNL as a government company can easily obtain funds.;