1. This is an application for judgment upon admission in favour of the petitioner for a sum of Rs. 25,93,275.80p. and, accordingly, a decree may be passed and further the balance claim of the petitioner may be relegated to the suit.

2. The petitioner relied upon a revised schedule of payment forwarded by the respondent by a letter dated 28th May, 1998 by which the respondent sought extension of time to pay as per such revised schedule.

3. On July 1, 1998, the respondent executed a demand promissory note promising to pay to the petitioner a sum of Rs. 26,85,575/-. On 31st July, 1998, the respondent clearly, unequivocally and unambiguously admitted that as on the date of the said letter, the balance sum outstanding by the respondent to the petitioner stood at Rs.21,51,800/- and delayed payment charges of Rs. 4,41,475.80p. became due and payable thereon, aggregating to a sum of Rs. 25,93,275.80p. which is according to the petitioner an admission on the part of the respondent to the extent of the said amount.

4. It further appears that on 31st July, 1998, the respondent forwarded two cheques both dated 31st July, 1998 towards payment of its admitted dues, being the amounts as afo