MANOHAR PRASAD Vs. STATE OF BIHAR

JUDGEMENT

(1.) Heard the learned counsel for the petitioners, opposite party No. 2 and learned APR

(2.) In a case under Sections 406 and 420 of the Indian Penal Code learned counsel for the petitioners submits that the petitioners are ready to make payment of Rs. 81,72,000/- in OTS Scheme but they are not in a position to pay this amount in one lumpsum and can pay it in quarterly instalments, and the first instalment will be of Rs. 5/- lacs and thereafter every quarterly instalment will be of Rs. 10/-lacs and within a period of two years from the date of the payment of 1st Instalment petitioner will clear the entire aforesaid amount by increasing some last instalments or last instalment. It is further submitted that for payment of 1st instalment three months time be granted.

(3.) Learned counsel for the informant accepts the aforesaid proposal but submits that time for payment of 1st instalment till 15th October, 2005 may be granted. This proposal is accepted by the learned counsel for the petitioner.