VIKAS BHATIA Vs. NIKHIL CHOHAN

JUDGEMENT

(1.) THIS is a suit filed by the plaintiff under Order 37 CPC for recovery of Rs.24 lacs along with future and pendente lite interest @ 18 per cent per annum.

(2.) THE brief facts of the case are that the defendant approached the plaintiff, who is a goldsmith by profession, for a friendly loan of Rs.24 lacs and promised to repay the aforesaid amount on or before 20.10.2011. Consequently, the plaintiff advanced a loan of Rs.24 lacs to the defendant on different dates, details of which are as under : -

(3.) THE defendant filed an application under Order 37 Rule 3 (5) read with Section 151 CPC for leave to defend the suit. Vide order dated 19.7.2013, the said application was allowed subject to the defendant depositing a sum of Rs.20 lacs with the Registrar General of this court within eight weeks. Till date, the defendant has not deposited a sum of Rs.20 lacs despite couple of opportunities having been given. The defendant has also filed an appeal against the said order before the Division Bench; however, there is no stay order passed by the appellate court. The learned counsel has opposed the grant of any further time on the ground that the defendant was directed to deposit the amount in July and nearly ten months have elapsed and no amount has been deposited.