( 1 ) THE appellants herein, who are defendants 2, 4, 5, 8 to 12 in O. S. No. 75 of 1981, preferred this appeal against the judgment and decree dated 26-4-1989 passed in O. S. No. 75 of 1981 by the learned Principal Subordinate judge, Ongole, for recovery of a sum of rs. 65,200/- with subsequent interest @ 6% per annum on the principal amount of rs. 40,000/- from the date of the suit till the date of realization.

( 2 ) THE 1st respondent/plaintiff initially instituted the above suit against the 1st defendant-registered partnership firm alleging that the firm represented by 6th defendant- a. Satyanarayana borrowed an amount of rs. 40,000/- from him on 7-4-1978 by executing a demand promissory note in his favour agreeing to repay the same together with interest at the rate of Rs. 1. 75 ps. per hundred per mensum. Subsequently, when the plaintiff demanded the 1st defendant to pay the due amount, the 1st defendant promised to pay the same but failed to repay. As the suit promissory note was getting barred by time, the plaintiff was constrained to file the suit on the last date of limitation i. e. , 7-4-1981. Subsequently, defendants 2 to 12 were added as parties to th