Madras High Court
N. Sathish Kumar vs Unknown
Author: N. Sathish Kumar
Bench: N. Sathish Kumar
1
Sub. Application No.209 of 2019
in
Cont.P.No.340 of 2017
N. SATHISH KUMAR, J.
This application has been filed, seeking extension of time for six months to settle the remaining amount of Rs.1,00,00,000/- (Rupees one crore only).
2.It is an admitted fact that, out of Rs.6,50,00,000/- (Rupees six crores and fifty lakhs only), Rs.5,50,00,000/- (Rupees five crores and fifty lakhs only) has already been paid by the applicant to the respondent, however, the remaining amount of Rs.1,00,00,000/- has not been paid in time.
3.Today, Ethelbert J. Coelho, applicant, is present before this Court. He seeks four months' time to settle the remaining amount, viz. Rs.1,00,00,000/-.
4.Considering the affidavit filed in support of this application and also his personal representation and undertaking before this Court, this Court is inclined to grant extension of time for another four months, for the applicant to pay the remaining amount of Rs.1,00,00,000/-.
http://www.judis.nic.in 2 N. SATHISH KUMAR, J.
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5.In the event of failure to pay the remaining amount of Rs.1,00,00,000/-, interest @ 18% p.a. to the said amount, shall be payable by the applicant, till the entire amount is settled. Further, the petitioner shall not create any encumbrance over the property, viz., Silver Cloud Estates Pvt. Ltd., till then.
6.This application is ordered accordingly.
7.The contempt petition in Cont.P.No.340 of 2017 is adjourned to 04.11.2019.
01.07.2019 Sub. Application No.209 of 2019 in Cont.P.No.340 of 2017 http://www.judis.nic.in