Arijit Banerjee, J.

(1) This application has taken out by the plaintiff/petitioner praying for a judgment upon admission against the respondent for the sum of Rs. 54,05,000/-.

The petitioner’s Case:

(2) The petitioner’s case is that a tripartite agreement dated September 19, 2009 was entered into by and between the petitioner, the respondent and the respondents C & F agent Sunrise Telelinks Pvt. Ltd. wherein the petitioner was appointed by the respondent as a super distributor for mobile handsets/phones in various parts of West Bengal. According to the said arrangement the petitioner was required to first pay the price of the products and then collect the products from Sunrise and then distribute the same. In or about July 2010, the respondent approached the petitioner with request for a loan of Rs. 50 lakhs repayable on demand with 3 per cent interest per month for expansion of the business of the respondent. The petitioner agreed to advance such loan and transferred the amount of Rs. 50 lakhs to the respondent’s bank by way of RTGS on August 2, 2010. On the same day, the petitioner also handed over a sum of Rs. 50 lakhs in cash to the respondent on account of advance to b