2018 (11) TMI 247

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....in a period of 90 days. To secure the interest of the petitioner, respondent Nos.4 & 5 executed a promissory note for Rs. 75 lakhs as well as handed over Post Dated Cheque (PDC) dated 13.09.2008 for the aforesaid amount of Rs. 75 lakhs. The respondents also handed over a cheque dated 14.06.2008 for a sum of Rs. 2,46,303/- towards the interest of the aforesaid amount for the said period after deducting TDS. Prior to the due date, on 10.09.2008 the respondents again approached the petitioner seeking extension of time for repayment of the aforesaid amount by two months. A fresh PDC dated 11.09.2008 for the principal amount i.e. Rs. 75 lakhs was issued. Another cheque dated 11.09.2008 for Rs. 1,76,203/- for further interest after deducting T....

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.... respondents on 04.03.2013 despatched a Confirmation of Ledger Account showing the outstanding balance as per the books of accounts of the respondents for the financial years 2009-10, 201011, 2011-12, 2012-13. The last ledger account indicated the balance amount payable to the petitioner is Rs. 63,43,965/- as on 31.03.2013. As the respondents continued to default, the petitioner sent a legal notice on 14.08.2015. It is pleaded that despite receipt of the legal notice, the respondents did not respond to the legal notice or pay the dues of the petitioner. 4. The respondents have filed their reply. In the reply the respondents have denied that they despatched any balance confirmation to the petitioner. It has also been stated that the perso....