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Judgment
Ashok Menon, Chairperson
The appellants were directed vide order dated 13.09.2024 to deposit a sum of ₹60 lakhs as the pre-deposit for entertaining this appeal. They paid ₹10 lakhs upfront, on the date of the order and the balance ₹50 lakhs was payable in two equal instalments of ₹25 lakhs each. The first instalment which was due and payable on 04.10.2024 was paid in time. The second instalment of ₹25 lakhs was due and payable on 18.10.2024. The appellants filed this application on 15.10.2024 for an extension of time for the payment of the second instalment expressing their financial strain.
The Ld. Counsel appearing for the respondent bank has vehemently opposed the application stating that the appellants have not paid any amount towards the second instalment, and hence no indulgence be shown.
The first instalment was paid in time. Considering the circumstances, a week is granted from today, i.e. on or before 28.10.2024 to pay the amount. It is made clear that no further extension will be granted.
Interim order shall continue till the next date of hearing.
List the matter on 29.10.2024 for reporting compliance regarding the payment of the second instalment.