SWARANJIT SINGH SAYAL Vs. M.K JAIN

JUDGEMENT

(1.) This is an application filed by the defendant under Order XXXVII Rule 3 (5) of the Code of Civil Procedure, 1908 (CPC) seeking leave to defend the present suit.

(2.) Before dealing with the rival submissions of the parties, the brief factual matrix, as may be necessary for adjudication of the present application may be noted at the outset.

(3.) The plaintiff has filed the present suit under Order XXXVII CPC seeking recovery of a sum of Rs.3.00 crores along with interest @ 18% p.a. from the defendant on the basis of a written acknowledgement for a sum of Rs.2.00 crores in the form of a receipt issued by the defendant on 23/12/2011 and a cheque dtd. 6/1/2012 for the remaining sum of Rs.1.00 crore issued by him.