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Madras High Court · body

2011 DIGILAW 680 (MAD)

R. P. v. Engineering industries Rep. By Its Partner S. P. Pandian VS The Manager The Tamilnadu Industrial Investment Corporation Limited

2011-02-09

M.JAICHANDREN

body2011
Judgment :- 1. Heard the learned counsel appearing for the petitioner and the learned counsel appearing for the respondents. 2. At this stage of the hearing of the Writ Petition, the learned counsel appearing on behalf of the petitioner had submitted that the petitioner would pay the entire due amount of Rs.3,85,000/-, along with the interest accrued thereon, till the date of its payment, to the first respondent, within a period of sixty days from today. He had also submitted that a sum of Rs.1,00,000/- would be paid, to the first respondent, within a period of fifteen days from today, as part payment of the amount due. 3. The learned counsel appearing on behalf of the respondents had submitted that no adverse action would be taken against the petitioner, for a period of sixty days from today, on the condition that the petitioner pays a sum of Rs.1,00,000/-, to the first respondent, within a period of fifteen days from today, as submitted by the learned counsel for the petitioner. 4. In view of the submissions made by the learned counsels appearing for the parties concerned, the petitioner is directed to pay a sum of Rs.1,00,000/-, to the first respondent, within a period of fifteen days from today and the balance amount of Rs.2,85,000/-, along with the interest accrued thereon till the date of its payment, shall be paid, to the first respondent, within a period of sixty days from today. If the petitioner fails to comply with the above directions issued by this Court, it would be open to the respondents to take appropriate action against the petitioner, as per law. With the above directions, the writ petition stands disposed of. No costs. Consequently, connected Miscellaneous Petition is closed.