YOGESH KHANNA, J.

I.A. No. 10345/2014

1. This application is under Order 37 Rule 3 (5) of the Civil Procedure Code moved by defendants No. 1 to 3 for leave to defend in a suit filed against the defendants for recovery of Rs. 3.00 Crore with pendentelite and future interest @ 18% pa with costs of the suit.

2. Before coming to the application, let me state the brief facts as under:-

(a) The Government Officers Welfare Organisation (GOWO) is a registered trust and a non-profit organization which aim at providing low cost and affordable housing welfare measures and consultancy to retired/ retiring government officers and is headed by Cdr Kuldeepak Mittal (Retd.) as chairman.

(b) The plaintiff with an aim and objective of providing affordable housing had entered into a memorandum of understanding (MOU) dated 30.07.2009 with GOWO to facilitate tie-ups with various companies to provide affordable low cost housing to the retired and retiring government officials.

(c) The defendants No. 2 and 3 are the directors of the defendant No. 1 and responsible for day to day affairs of the de