M/S.Tarsun Steels India v. The Chairman And Managing

WMP.No.26789/2016 in W.P.No.21686/2016 NKKJ This Court, by order dated 24.6.2016 directed the petitioner to deposit a sum of Rs.1,65,00,000/- as a pre-condition for stay, out of which Rs.1 crore was directed to be deposited within a period of six weeks from the date of receipt of a copy of that order and the balance amount of Rs.65 lakhs to be deposited within a period of 4 weeks from the date of payment of first instalment. It is submitted by both parties that the petitioner complied with the first limb of the order and as far as compliance of deposit of Rs.65 lakhs is concerned, the above WMP has been filed by the petitioner seeking further time as the petitioner is facing financial crunch. Taking into consideration, the financial constraint of the petitioner, it is appropriate to grant further time of 8 weeks from the date of receipt of a copy of this order to deposit the balance amount of Rs.65 lakhs.

The WMP is ordered accordingly.

02/09/2016 nv/cs