Writ petitions dismissed, respondents can encash arrears. Deadlines set for balance payment, asset alienation restricted.

The writ petitions are dismissed, following precedent. Respondents allowed to encash 50% of arrears through a bank guarantee. Petitioners given specific deadlines to pay the remaining balance. Restrictions placed on alienation of assets, with consequences for non-payment.

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The writ petitions are dismissed as they are covered by the decision in "Union of India v. Modi Rubber Ltd." Respondents can encash the bank guarantee for 50% of arrears of excise duty. Petitioners granted time to pay balance of arrears by 15th March, 1987 and 15th September, 1987. Attachments on goods of textile units to be raised. Default in payment will make entire balance due. Petitioners cannot alienate assets except in usual course of business.

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