M/S. Satyam Pharmaceticals, v. Debt Recovery Tibunal

HON'BLE SRI JUSTICE V. RAMASUBRAMANIAN AND HON'BLE SRI JUSTICE P. KESHAVA RAO WRIT PETITION No. 1077 of 2019 ORDER: (per V. Ramasubramanian, J)

1) Challenging the conditions imposed by the Debts Recovery Tribunal for the grant of stay of dispossession, the borrower has come up with the above writ petition.

2) Heard Mr.V.Venkata Naga Raju, learned counsel for the petitioner and Mr.M.V.K.Viswanadham, learned counsel for the second respondent.

3) By the order impugned in the writ petition, the Debts Recovery Tribunal granted stay of dispossession subject to payment of 15% of the amount due within one week and another 15% within two weeks. By our order dated 24.01.2019, we granted time to the petitioner upto 21.02.2019 for making payment of the first instalment. The petitioner seems to have complied with the same. Therefore, what remains is only the second instalment of 15%.

4) Considering the facts and circumstances, the Writ Petition is disposed of granting time to the petitioner upto 15.04.2019 for making payment of the second instalment of 15%. If the petitioner complies with the said condition, the petitioner will have the benefit of interim stay pending disposal of S.A.No.4 of 2019. If the

petitioner fails to comply with the said condition, the stay shall stand vacated.

Consequently, miscellaneous petitions if any pending in the writ petition shall stand closed. No order as to costs. _____________________ V. RAMASUBRAMANIAN, J ________________ P. KESHAVA RAO, J March 22, 2019 gkv

HON'BLE SRI JUSTICE V. RAMASUBRAMANIAN AND HON'BLE SRI JUSTICE P. KESHAVA RAO WRIT PETITION No. 1077 of 2019 Date: 22.03.2019 gkv