Jayant Nath, J.

Ia No.1344/2018

1. This application is filed by the defendant under Order 37 Rule 3(5) CPC seeking unconditional leave to defend the suit.

2. The accompanying plaint is filed under Order 37 CPC for recovery of Rs.71,86,00,000/- along with interest. The case of the plaintiff is that the plaintiff and the wife of the plaintiff, namely, Mrs. Ranjana Garg had 40% shares in the company Vikas Telecom Pvt. Ltd. They entered into two share purchase agreements with Embassy Ventures Office Pvt. Ltd. (hereinafter referred to as Embassy) on 23.04.2014. The plaintiff and Mrs. Ranjana Garg agreed to sell their shareholding of Vikas Telecom Pvt. Ltd. Various agreements were executed i.e. two share purchase agreements, Escrow Agreement-I, Escrow Agreement-II and an Amendment Agreement. It is pleaded that under the Share Purchase Agreement I monies were to be deposited into a Cash Escrow Account maintained by HDFC bank. A separate Escrow Agreement dated 23.04.2014 was also executed between the same parties i.e. Embassy, the plaintiff and his wife, namely, Mrs. Ranjana Garg. Similarly, Share Purchase Agreements II was also executed and signed on 23.04.2014 wherein the balance