LAKSHMI BUILDERS Vs. DEVINDER LAKRA

JUDGEMENT

(1.) This application has been moved by the defendant under Order XXXVII Rule 3 (5) CPC to seek leave to defend the present suit filed by the plaintiff as a summary suit under Order XXXVII CPC.

(2.) The case of the plaintiff, as made out in the plaint, is that the defendant used to seek short term financial assistance from the plaintiff to meet his business related requirements. In all, the defendant borrowed a sum of Rs.2,50,00,000/ - from the defendant from time to time in the following manner:

(3.) On 03.09.2012, the defendant acknowledged/ admitted his liability and agreed to re -pay the said amount to the plaintiff. He executed a promissory note undertaking to pay the said amount on 03.09.2012. Apart from executing the promissory note, the defendant also issued two post - dated cheques dated 29.10.2012 drawn on Central Bank of India, Connaught Circus, New Delhi bearing Nos.074805 and 074806 for Rs.1 Crore and Rs.1.50 Crore respectively in favour of the plaintiff and also undertook that the said cheques shall be honoured upon presentation on the due date.