JUDGMENT - MOHITE R.S., J.:---These two appeals which arise from the same summary suit i.e. Summary Suit No. 702/92 can be conveniently disposed of by a common judgment and order.

2. The brief and relevant facts which give arise to the filing of the aforesaid appeals can be summarised as under :-

a) In February 1996, Modiluft Limited (hereinafter referred as the "original defendant") approached Leela Capital Finance Limited (hereinafter referred to as the "Original Plaintiff") for grant of an Inter Corporate Deposit in the sum of Rs. 5 crores for a period of 90 days with interest at the rate of 27% per annum.

b) The said loan was granted by the plaintiff to the defendant on 20-2-96 on terms which were recorded in writing in a letter dated 20-2-96 addressed by the plaintiff to the defendant. The acceptance of the terms by the defendant was given at the foot of this letter itself. In order to secure the deposit, it was contemplated that the defendant would issue postdated cheques for the interest and principal amount. Further, security by way of equity shares of listed companies with 50% margin was provided for in the said terms. The amount of Rs. 5 crores was given by the plaintiff

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