SANGEETA JEWELS PVT LTD Vs. AJAY KUMAR JAIN

JUDGEMENT

(1.) THIS petition is directed against the order dated 14. 2. 2002 passed by the learned Additional District Judge, Delhi thereby dismissing an application under Order XXXVII Rule 4 CPC filed by the petitioners/defendants praying for the setting aside of the ex-parte judgment and decree dated 10. 02. 1999 passed in favour of the respondent/plaintiff in a suit filed by him under Order XXXVII CPC.

(2.) FACTS necessary to dispose of the present petition are that on 22. 10. 97 respondent filed a suit under Order XXXVII CPC against the petitioners for recovery of Rs. 1,72,000/ -. Suit was based upon three cheques dated 21. 10. 94 issued under the signatures of petitioner no. 2 as director of petitioner No. 1 in favour of the respondent.

(3.) BACKDROP to the cheques aforesaid, as pleaded in the plaint, was that petitioner no. 1 Sangeeta Jewels Pvt. Ltd. was a company incorporated under the Indian Companies Act and petitioner no. 2 Mr. Vipin Sehgal and petitioner no. 3 ms. Sangeeta Sehgal were its directors. That the plaintiff Mr. Ajay Kumar Jain agreed to advance a friendly loan in sum of Rs. 80,000/- to the petitioners. That the petitioners agreed to pay interest @ 24% p. a. and to refund the entire amount within a period of one year. That in lieu of same, petitioner no. 2 acting on behalf of petitioner no. 1 company issued the aforesaid three cheques. That when said the cheques were presented for encashment same were returned unpaid for want of funds.