P.C. :

1. The Summary Suit is for recovery of a sum of Rs. 68,37,96,666/-which comprises of principal amount of Rs. 67 crores and interest of Rs. 1,37,96,666/- calculated at the rate of 12% p.a. The suit is filed inter alia on the basis of dishonoured cheques.

2. The Plaintiffs had given short term loans aggregating to Rs. 67 crores for business purposes to the Defendant, the amounts of which were duly credited to the Defendant's account through RTGS. Towards repayment of these loans, the Defendant drew cheques of varying sums aggregating to Rs. 67 crores in favour of the Plaintiffs. The Defendant also by its letters (Exhibits D1 to D12 of the Plaint) acknowledged each of the loans advanced and promised to repay the amounts and also to honour the cheques. The cheques were dishonoured upon presentation for “insufficient funds”. The Plaintiffs, therefore, seek to recover the amounts with interest as aforesaid. The Plaintiffs rely upon both the dishonoured cheques as well as the letters, referred to above, for filing the suit as a Summary Suit.

3. The Defendant has filed a reply to the Summons for Judgment through one Manish Maru (who is said to be an authorised representa