CHANDER BHALLA vs RAJEEV BHATNAGAR

Judgment text excerpt

* IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 07.01.2025 Judgment delivered on: 30.01.2025 + FAO(OS) 84/2024 CHANDER BHALLA ....Appellant versus RAJEEV BHATNAGAR ....Respondent Advocates who appeared in this case: For the Appellant : Ms. Beenashaw Soni and Ms. Mansi Jain, Advocates. For the Respondent : Ms. Anusuya Salwan, Mr. Rachit Wadhwa and Mr. Bankim Garg, Advocates. CORAM: HON'BLE MR. JUSTICE VIBHU BAKHRU HON'BLE MR. JUSTICE TUSHAR RAO GEDELA JUDGMENT TUSHAR RAO GEDELA, J. 1. Present appeal has been filed assailing the impugned order dated 08.04.2024 passed by the learned Single Judge in CS(OS) 619/2022 titled Chander Bhalla vs. Rajeev Bhatnagar filed by the appellant, vide which the application of the respondent under Order XXXVII Rule 3(5) Civil Procedure Code, 1908 (hereafter “CPC”) seeking leave to defend has been allowed, unconditionally. Signature Not Verified Digitally Signed By:MADHU SARDANA FAO(OS) 84/2024 Signing Date:30.01.2025 17:47:50 Page 1 of 12 2. The facts, shorn of unnecessary details and germane to the issue at hand and as collated from the appeal as well as the impugned order are as under:- (a) It is the case of the appellant that the respondent is his distant relative who, being in dire need of funds, requested the appellant for a personal loan amounting to Rs.7.5 crores and offered to pay interest at 12% p.a. It is stated that the appellant advanced the said loan by RTGS and the cheques drawn on Kotak Mahindra Bank during the period from 12.12.2017 to 26.03.2019, which were duly encashed by the respondent. It is also stated that besides the said loan, the respondent had taken another loan of Rs.2.5 crores from the company of the appellant namely M/s. Grand Prix Engineering Pvt. Ltd. which is also outstanding and for which