Petitioner is aggrieved with the demand notice issued as per Ext.P2. Obviously, the demand is raised on the basis of an exparte decree, passed by the Company Court, on an application made by the 3rd respondent herein.
2. The learned counsel appearing for the 3rd respondent submits that the decree was passed earlier and no payments have been made thereon. However, considering the impecunious circumstances pleaded by the petitioner, the petitioner shall be granted six monthly instalments to satisfy the demand as per Ext.P2, starting from 25.07.2014 and followed up with, on the 25th of each succeeding month. On the satisfaction of the payment as per Ext.P2, the 1st respondent shall issue a statement for future interest, which shall also be satisfied as the 7th instalment on the 24th of the succeeding month. If two W.P.C. No.16095 of 2014 2 consecutive defaults are made by the petitioner, necessary recovery proceedings shall revive and be confirmed.
The writ petition is disposed of.
K. VINOD CHANDRAN, JUDGE sp