MUKUNDAKAM SHARMA, J.

( 1 ) BY this judgment and order, I propose to dispose of the application, which is filed by the defendant praying for leave to defend the suit filed by the plaintiff, which is registered as IA No. 9245/2001.

( 2 ) THE suit is filed by the plaintiff praying for a decree against the defendant for recovery of an amount of Rs. 37,92,927. 47p along with pendente lite and future interest and cost. The plaintiff is engaged in the business of manufacture and supply and marketing of audio cassettes and CDs. The defendant, who is the proprietor of M/s Shiva Electronics, is engaged in the business of trading and selling the said products and other products.

( 3 ) IN 1994, the plaintiff appointed the defendant as a dealer of the products manufactured and marketed by the plaintiff. It is stated in the plaint that subsequent to the said appointment, products of the plaintiff were duly supplied by the plaintiff to the defendant against invoices raised at mutually agreed price and rates. It is alleged that the defendant, however, failed to adhere to the agreed terms of payment and began making only part account payments whereupon a running account came to be established. It

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