The defendants in O.S.No.851 of 1997 on the file of the III Additional Senior Civil Judge, Visakhapatnam being aggrieved by the judgment and decree, dated 15-03-2004 made in O.S.No.851 of 1997, had preferred the present appeal.

2. In A.S.M.P.No.11672 of 2004 on 29-06-2004 interim stay was granted on condition of deposit of half of the decretal amount and costs within a period of eight weeks. The same had been complied with and the amount deposited had been permitted to be withdrawn by an order dated 27-10-2004 in A.S.M.P.No.13865 of 2004 and 11672 of 2004.

3. The respondent in the appeal as plaintiff in the suit aforesaid, filed the suit for recovery of a sum of Rs.2,58,980-39ps with subsequent interest and costs. The learned III Additional Senior Civil Judge, Visakhapatnam in the light of the respective pleadings of the parties having settled the issues, recorded the evidence of P.W.1, marked Exs.A1 to A16 and recorded findings and ultimately came to the conclusion that the appellants-defendants are liable to pay Rs.2,58,980-39ps with subsequent interest at 12% per annum from the date of the suit i.e. 03-10-1997 till the date of the decree, i.e.15-03-2004 and thereafter