JUDGMENT:

1. Order dated August 11, 2021 passed by the City Civil and Sessions Court, Mumbai, rejecting Petitioners/Plaintiffs’ application for summary judgment is the subject matter of challenge in the present Petition.

2. Petitioners are the Plaintiffs in commercial suit instituted for recovery of money with interest against defendant, who is Respondent herein. The case pleaded in plaint is that Plaintiff No.1, who is in business of trading in property and financing, was approached by Defendant for financial assistance in the form of loan of Rs.50,00,000/-. Plaintiffs paid Rs.50,00,000/-to the Defendant by RTGS on May 27, 2015. It is alleged that Defendant has executed a Bill of Exchange in favour of the Petitioners/ Plaintiffs payable on demand after the due date of June 26, 2015, which however is silent on interest payable, if any. Defendant issued letter dated August 5, 2015 to Plaintiffs confirming receipt of amount of Rs.50,00,000/-towards business loan, undertook to repay the same and issued two post dated cheques of bearing date October 30, 2015 for Rs.50,00,000/-towards principal amount and Rs.2,33,333/-towards interest. Additionally, one more Bill of Exchange was executed