2014 (6) TMI 1005

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....ourt : By order dated 7th May, 2013 the company was directed to pay Rs. 30 lakhs inclusive of interest and costs in ten equal monthly instalments. First instalment was to be paid on and from 1st June, 2013 but the said payment could not be honoured by the company in time. The payment of Rs. 6 lakhs has been made belatedly. Therefore, the agreement between the parties has failed and interest on the....

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....h. iii) On and from the eighth instalment to the thirteenth instalment, let payment be made at Rs. 1.75 lakhs per month and iv) On and from the fourteenth instalment, let sums at Rs. 2 lakhs be paid by the company to the petitioning creditor till liquidation of outstandings. It is pertinent to note that the matter has come at the post advertisement stage and in the event of any default in....