OMAXE LIMITED Vs. MADHU SUDAN SHARMA AND ORS.

JUDGEMENT

(1.) VIDE order dated 07.05.2010, the leave to defend application filed by the defendants under Order 37 Rule 3(5) CPC and registered as I.A. No. 15502/2009 was conditionally allowed upon the defendant No. 1 furnishing a bank guarantee for the principal cheque amount of 65 lacs to the satisfaction of the Registrar General within six weeks. Aggrieved by the aforesaid conditional leave to defend granted to the defendant No. 1, an intra -court appeal was preferred by him, registered as FAO(OS) 551/2010. Vide order dated 27.09.2011, The aforesaid appeal was disposed of by the Division Bench and while upholding the impugned order dated 07.05.2010, the same was modified only to the extent that instead of furnishing a bank guarantee to the tune of '65 lacs, the defendant was called upon to furnish an alternative solvent security to the satisfaction of the Registrar General within one month from the date of passing of the said order, i.e., on or before 28.10.2011.

(2.) COUNSEL for the defendant No. 1 states that the said defendant has filed a copy of the sale deed of an immoveable property with a valuation report on 14.12.2011.

(3.) COUNSEL for the defendant No. 1 concedes the fact that the sale deed offered as an alternative solvent security was neither filed within the time granted by the Division Bench nor has the said defendant approached the Division Bench for seeking extension of time or for condonation of delay. He also concedes that though an application was filed in the Registry alongwith the aforesaid documents for acceptance of the title deeds of a property to the satisfaction of the Registrar General, the same has not been pursued by the defendant.