1. This petition is directed against the order dated 14.2.2002 passed by the learned Additional District Judge, Delhi thereby dismissing an application under Order XXXVII Rule 4 CPC filed by the petitioners/defendants praying for the setting aside of the ex-parte judgment and decree dated 10.02.1999 passed in favour of the respondent/plaintiff in a suit filed by him under Order XXXVII CPC.

2. Facts necessary to dispose of the present petition are that on 22.10.97 respondent filed a suit under Order XXXVII CPC against the petitioners for recovery of Rs.1,72,000/-. Suit was based upon three cheques dated 21.10.94 issued under the signatures of petitioner no.2 as director of petitioner No.1 in favour of the respondent.

.3. Backdrop to the cheques aforesaid, as pleaded in the plaint, was that petitioner no.1 Sangeeta Jewels Pvt. Ltd. was a company incorporated under the Indian Companies Act and petitioner no.2 Mr.Vipin Sehgal and petitioner no.3

.Ms.Sangeeta Sehgal were its directors. That the plaintiff Mr.Ajay Kumar Jain agreed to advance a friendly loan in sum of Rs.80,000/- to the petitioners. That the petitioners agreed to pay interest @ 24% p.a. and to refund