2015 (8) TMI 1532

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....jesh Kumar S For M/s. Aks Law Assts., Advs. For the Respondent : Sri. Gururaj Joshi, Adv. ORDER The petitioner is before this court seeking that the notice dated 26.10.2010 at Annexure-R be quashed. The petitioner is also seeking that a mandamus be issued to the respondent for considering the proposal of the petitioner No.1 for rescheduling the loan as per the letter dated 05.09.2010 at A....

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....but to issue the notice dated 26.10.2010 impugned herein and take action in accordance with law. 4. In the above background, when the matter was heard on the earlier date, this Court was of the opinion that any consideration by the respondents would arise only if the petitioner makes a firm commitment to pay the substantial sum to the respondents towards the amount due and thereafter seek an op....

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....fore 30.10.2015 and the second instalment of Rs. 2 crores would be paid on or before 31.01.2016. 6. At this point, it is relevant to take note of the submission made by the learned counsel for the respondent with reference to the memo dated 03.02.2015 which had been filed in this petition. Learned counsel for the respondent would point out that even at an earlier point by addressing a communica....

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....t for the deposit of the second instalment and on the second instalment being deposited, the request to be made by the petitioner for rescheduling would be considered in accordance with law. In view of the said clarification, it is needless to mention that if the first instalment of Rs. 3 crores is not deposited by 30.10.2015, the respondent would not be obliged to wait any further. In that view, ....