JAYESH NAGINDAS DOSHI Vs. ASHAPURA ALUMINIUM LTD

JUDGEMENT

(1.) Admit. Learned counsel for the Respondent waives service. The appeal is taken up for hearing and final disposal, by consent and on the request of the learned counsel.

(2.) The appeal has been preferred by the First Defendant against an order of the learned Single Judge on a Summons for Judgment taken out in a summary suit under Order XXXVII of the Code of Civil Procedure, 1908. By the impugned judgment, the Appellant has been granted leave to defend the suit conditional on a deposit of an amount of Rs.50.00 lakhs within a period of eight weeks. The Summons for Judgment has been made absolute against the Second and Third Defendants who have not entered appearance despite service of the summons. Since the appeal is only by the First Defendant, this order is confined to the correctness of the order of the learned Single Judge insofar as the Appellant was granted conditional leave to defend.

(3.) The suit has been instituted for the recovery of an amount of Rs.81.33 lakhs together with interest at the rate of 18 per cent per annum on the principal sum of Rs.75.65 lakhs.