( 1 )

( 2 ) THESE two appeals have been preferred against the order dated 1. 9. 95, -passed by the learned Single Judge whereby learned Single Judge. dismissed the application (I. A. 5113/93) under Order 37 Rule 3 (5) of the Code of Civil Procedure, filed by the appellants in Suit No. 309/93, seeking leave to contest the suit. Learned Single Judge held that no triable issues were involved and contentions raised in defence were frivolous. As a consequence of dismissal of IA. 5113/93, the suit was decreed against the appellants for a sum of Rs. 18,97,093. 85, which included the principal amount of Rs. 16,93,867. 70 and interest amounting to Rs. 2,03,226. 15 @ 18% instead of 24%. Learned Single Judge granted future interest @ 18% on the principal amount of Rs. 16,93,867. 70 from the date of suit. Aggrieved by the rejection of their leave to contest, the appellants have preferred the above appeals.

( 3 ) FAO (OS) 292/95 is preferred by M/s. Cosmos Builders and Promoters (P) Ltd. while FAO (OS) 293/95 is preferred by Sh. Manoj Mittal, wherein M/s. Cosmos Builders and Promoters (P) Ltd. have been impleaded as a proforma respondent. Let us briefly notice the relevant facts g