( 1 ) THE facts giving rise to the application for leave to contest moved by the defendant under Order 37 rule 3 (5) of Civil Procedure Code are as under

( 2 ) ON representation of the defendant that he was facing financial problems the plaintiff no. 1. advanced a loan of Rs. 6 lacs to him and the defendant on receipt of the said amount executed a receipt dated 5. 3. 97 and he also took a loan of Rs. 3 lacs from plaintiff no. 2 and in consideration of the receipt of the said amount, the defendant also executed the receipt dated 5. 3. 97. The defendant also handed over the original title deeds in respect of property bearing no. A-4/c--26, Janak Puri, New delhi and executed a deed of mortgage in respect thereof.

( 3 ) THE defendant agreed to pay a minimum instalment of rs. 10,000/- per month and had paid only two monthly instalments of Rs. 10,000. 00 and had not paid any amount after June, 1997 and according to the plaintiff the instant case is based upon the receipts as well as the agreement dated 5. 3. 97 and as such is covered under the provisions of Order 37 Rule 3 (5) Code of Civil Procedure.

( 4 ) THE defendant has at the outset raised the legal objection that the de