Judgment

Rajendra Babu, J.-Leave granted.

2. This appeal arises out of an order made by the High Court of Bombay affirming an order made by the Trial Judge in a summary suit filed under Order 37 or C.P.C. whereby the Trial Judge had issued summons for judgment and made it absolute against the appellants and conse­quently passed a decree against them for a sum of Rs. 37,51,519.43 with interest and certain other incidental charges. A suit was brought by the respondents on the basis of bills of exchange in respect of which the appellants are the acceptors. M/s. Khanna Sales Corporation are the drawees of the bill who have Local Bill Discounting facility with the respondents. Under the said facility, M/s. Khanna Sales Corporation discounted the bills of exchange. The respondent bank made payments to M/s. Khanna Sales Corporation on the basis of the bills of exchange. Since the amounts under the Bills of Exchange were not paid and received by the respondent bank when they were presented within the stipulated time and since demand did not come forth despite notice of demand, the respondent bank filed a summary suit as aforesaid. Nine bills of exchange had been drawn by M/s. Khanna Sales Co