S. U. KAMDAR, J.

( 1 ) THE present suit has been filed by the plaintiffs for recovery of a sum of Rs. 72,311/- with interest on the principal amount of Rs. 63,677/- at the rate of 18% per annum from the date of the suit till payment and/or realisation and Rs. 1,15,595/- towards damages along with interest at the rate of 18% per annum. Some of the material facts of the present case are as under :

( 2 ) ON 1. 9. 1976 an agreement was executed between the plaintiff as the owner of the vehicle and Defendant no. 1 company for purchase of motor vehicle bearing Registration No. GTT - 4010 on the higher purchase basis. The 2nd defendant executed a guarantee in respect thereof. On execution of the said agreement, the defendant No. 1 made payment of the sum of Rs. 15,371. 92 as and by way of initial payment for the purchase of the said motor vehicle and agreed to make balance payment in instalments which will become due from time to time as provided in the said agreement. It is the case of the plaintiff that the defendant No. 1 was irregular in making payment of instalment amount and accordingly a notice was issued by the plaintiffs to the defendant no. 1 on 13. 9. 1977 seeking paymen