K. S. SHRIVASTAV, J.

( 1 ) HEARD the learned Counsel of both sides on admission.

( 2 ) IT is not disputed before me that the petitioner had advanced a sum of Rs. 25,00. 000. 00 to the respondent/company on interest at the rate of 30 per cent per annum. It is also an admitted fact that the respondent/ company had paid an amount of Rs. 5,00,000. 00through cheque dated 30-12-1995 and Rs-62,151/- through cheque against interest accrued upto 15-1-1996. The respondent/ company has also deposited an amount of Rs. 2,00,000. 00 in the Bank account of the applicant on 19-4-1996. The petitioner on 15-4-1996 issued a legal notice to the respondent/company demanding a sum of Rs. 21,80,333. 00. After receiving this letter, the respondent/company sent a reply admitting the claim of the applicant, but alleging that it had a feeling that the applicant was interested in settling the matter amicably but had resorted to legal route.

( 3 ) THE defence of the respondent/ company is that it has submitted a schedule of repayment of the amount due to be paid by it through letter dated 5-4-1996. The petitioner through its letter dated 6-4-1996 wanted the respondent/company to provide more reasonable schedule

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