Rajiv Sahai Endlaw, J.

IA No.1232/2013 (of the defendants for leave to defend).

1. The plaintiff has instituted this suit under Order 37 of the CPC for recovery of Rs.1,47,00,000/-jointly and severally from the six defendants, pleading:-

(i) that the defendants are members of a joint Hindu family and which family controls and manages M/s. Infragro Industries Ltd.;

(ii) that the plaintiff from time to time advanced loan for the business of the said Company;

(iii) that the defendants upon being unable to return the said loan agreed that 5593 sq. mtrs (6420 sq. yds.) of land owned by the defendants at Rahe Murtaza Road, Civil Lines Rampur, U.P. would be jointly developed by the plaintiff and the defendants and the amount due to the plaintiff would be realized by selling the plaintiff’s portion of the built-up area to be constructed on the said land and to sell part of the land ad measuring approximately 2200 sq. yds. to the plaintiff, all on the terms and conditions contained in the Agreement dated 22nd March, 2006 between the parties;

(iv) the defendants however neither performed their part of the said Agreement dated 22nd March, 2006 nor liquidated their liability towards th