payment crisis issue

I am running a dying factory in gujarat.Lately i am facing huge fund crisis as my buyers/customers are not giving my payments on time and as a result i am not able to pay for the raw materials to the suppliers as per the terms decided while buying goods from him.One particular supplier lodged a complaint(not legal FIR) with the local police station and he had invited both me and the supplier at mutually agreed time.When i reached there,the supplier had brought with him a local goon who has relations with the police officers and was thus being too rude(using bad words and stuff in front of police) and forcing me to clear all the payments in 2-3 months.I told him i will clear all the money as soon as possible but cannot give a time limit for doing the same, but he was not ready to compromise. I am fully willing to clear all his payments but need time for doing so and i have been giving him his payments every few days but he wants the remaining amount right away.I have not given any answer as of now and i need advice as to how to go ahead with this situation.