IA No.7043/2011

1. By this application filed under Order XXXVII Rule 3 of the Code of Civil Procedure, 1908 the defendant no.1 seeks grant of leave to defend the present suit.

2. The plaintiff has filed the present suit under Order XXXVII of the Code of Civil Procedure for the recovery of an amount of Rs. 60,85,000/-. Initially, the suit was filed by the plaintiff against defendant no. 1 to 3 and later vide order dated 21.3.2011, the names of defendant no. 2 and 3 were directed to be deleted at the instance of the plaintiff, the same being unnecessary parties to the present suit. Earlier this court vide order dated 21.12.2010 had passed a decree for recovery of an amount of Rs. 60,85,000/-with costs and pendente lite and future interest @ 12 % p.a. against the defendant no.1 as the defendant no.1 had failed to enter appearance as per the mandatory requirement of Order XXXVII Rule 2(3) of the Code of Civil Procedure. The said order dated 21.12.2010 was later on set aside by this court vide order dated 21.3.2011 on the application moved by the defendant no.1 seeking setting aside of the ex-parte order dated 21.12.2010.

3. The case as set up by the plaintiff in the plaint is tha