S. RAVINDRA BHAT, J.

1. This is a defendant's appeal against the judgment and decree in the summary suit, being Suit No. 1383/1989, for recovery of Rs.1,51,50,000/- plus interest of Rs.58,75,620/-. The appellant/defendant’s application seeking leave to defend the suit was dismissed on 15.10.1993.

Plaint

2. The facts alleged in the plaint are that the respondent company (hereafter "the plaintiff") engages in the business of manufacturing and selling controls and devices for refrigeration and air conditioning equipment. The defendant carries on his business under the name of Nexim/Mohan Murti, at 47, Ring Road, Lajpat Nagar, New Delhi as well as at 110/111 Pragati Tower, Rajendra Place, New Delhi. He trades under the name “Nexim” even in Mumbai, in an office at Nariman Point, and owned – at the relevant time - a trading office under the same name at the World Trade Centre in Moscow, in the erstwhile USSR. At the time of institution of the suit, the defendant was working as a Director of Corporate Development of Escorts Ltd., New Delhi.

3. The suit alleged that the defendant, by a contract of supply dated 27.12.1985 (“first contract”), with the official Russian importer, Technoin