JUDGMENT

1. Heard Sri B. Ram Mohan Reddy, learned Senior Counsel for the petitioner and Ms. Poornima Singh Kambli, learned counsel for the respondent.

2. Respondent Bank filed summary suit i.e., O.S.No.34 of 2020 under Order XXXVII of the Code of Civil Procedure, 1908, in the Court of the Hon'ble Chief Judge, City Civil Court, Hyderabad praying to grant judgment and decree against defendant for a sum of USD 1, 206, 174.46 (US Dollars One Million Two Hundred and Six Thousand One Hundred and Seventy Four Dollars Forty Six Cents Only). After service of summons, the petitioner herein filed I.A.No.363 of 2022 in COS.No.34 of 2020 under Order XXXVII Rule 5 R/w. Sec. 151 of CPC, praying to grant unconditional leave to defend the suit. The trial Court elaborately considered respective submissions and by order dtd. 20/3/2023 granted leave to the petitioner to defend the suit subject to furnishing the security equivalent to the suit amount i.e., Rs.8, 56, 50, 448.60 paise within 60 days from the date of the order. Aggrieved thereby, this Civil Revision Petition is filed.

3. Learned Senior Counsel for the petitioner contended that the trial Court having observed that the petitioner has made ou