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Petition to set aside order to auction assets and request for extended payment period. Analysis: The writ petition was filed to challenge an order directing the auction of assets and seeking permission to pay outstanding dues in instalments over three years. The petitioner argued that with a three-year timeframe, they could clear the dues without difficulty. The respondent had ordered the petitioner to deposit a substantial amount within a short period, leading to the deposit of Rs. 10 lacs to avoid property auction. The petitioner's plea for extended payment was supported by the Advocate General, highlighting the financial strain on the company and the risk of closure if forced to pay the entire sum within a year due to industry challenges. The Advocate General cited a Departmental Clarification allowing for payment of dues in instalments, advocating for a three-year period. However, the Union of India opposed the request, arguing that the initial 11-month instalment plan was appropriate and should not be altered. Upon careful consideration, the Court acknowledged the reasonableness of the 11-month instalment plan but recognized the burden of a 21% per annum interest rate. To balance justice and convenience, the Court granted the petitioner 16 instalments to settle the outstanding amount, including interest. The judgment emphasized that failure to pay two consecutive instalments would result in the authorities proceeding with property auction without further notice. By issuing this directive, the Court disposed of the writ petition, providing a structured approach to payment while safeguarding the interests of both parties involved.
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