Judgment

R.V. Raveendran, J.

1. Leave granted.

2. The respondent (`TISCO' for short) filed a suit (C.S.No.12/2003) in the Calcutta High Court against the appellant for recovery of a sum of Rs.2,02,72,505/40 in regard to supply of steel. In the said Suit, the respondent filed an application on 8.8.2003 praying for a decree upon admission for Rs.74,57,074/50 alleging that the appellant had admitted liability for such sum, as per minutes of the meeting held on 9.12.2000 between representatives of respondent and appellant. The said application was resisted by the appellant contending that there was no such admission on 9.12.2000 or any other date and pointing out that what transpired on 9.12.2000 was only a tentative agreement to have the accounts verified and not a final settlement or admission of liability.

3. A learned single Judge of the Calcutta High Court by order dated 22.2.2008, granted a judgment on admission under Order 12 Rule 6 of the Civil Procedure Code (`Code' for short) for a sum of Rs.47,06,775/- in favour of the respondent-plaintiff, subject to respondent furnishing a bank guarantee for a sum of Rs.48,00,000/- in favour of the Registrar of the High Court. The intra ap