THE HONOURABLE SRI JUSTICE B.SESHASAYANA REDDY COMPA.NO.1587 OF 2011 IN COMPA.NO.933 OF 2011 IN C.P.NO.103 OF 2008 DATE: 31-10-2011 BETWEEN: V.PRAVEEN KUMAR REDDY .. APPLICANT AND M/S.COMMERCIAL BENEFIT CORP., AND 7 OTHER FIRMS (IN LIQN) REP. BY ITS OFFICIAL LIQUIDATOR HIGH COURT OF A.P., HYDERABAD .. RESPONDENT THE HONOURABLE SRI JUSTICE B.SESHASAYANA REDDY COMPA.NO.1587 OF 2011 IN COMPA.NO.933 OF 2011 IN C.P.NO.103 OF 2008 O R D E R: This is an application filed by Sri.V.Praveen Kumar Reddy seeking extension of time for payment of Rs.79,50,000/-. Heard learned counsel appearing for the applicant and learned counsel appearing on behalf of the Official Liquidator. This is the second extension application. The earlier application filed by the applicant came to be ordered on 19.8.2011 permitting the applicant to pay the balance sale consideration of Rs.79,50,000/- with 12 percent interest from 4.8.2011 within 30 days. Despite time being allowed the applicant could not pay the amount within the extended period and therefore he moved this instant application. Learned counsel appearing for the applicant submits that the applicant could not raise the funds due to his ill-health of his father who has been admitted in the hospital. Having considered the facts and circumstances, time allowed to the applicant to pay the balance sale consideration of Rs.79,50,000/- is extended by 30 days from today, subject to the applicant paying interest @ 18 percent from 19.9.2011, apart from paying interest @ 12 percent as ordered in C.A.No.933 of 2011. Accordingly, this application is allowed. __________________ 31-10-2011 tnb THE HONOURABLE SRI JUSTICE B.SESHASAYANA REDDY COMPA.NO.1587 OF 2011 IN COMPA.NO.933 OF 2011 IN C.P.NO.103 OF 2008 DATE: 31-10-2011