This is a suit for money claim valued at Rs. 46,57,024/-.

2. Plaint case in brief is that at all material times the plaintiff company has been and is still carrying on non-Banking business and is a Non-Banking Financial Company registered with Reserve Bank of India.

3. The defendant company is also carrying on various types of commercial business.

4. The defendant company approached the plaintiff company for grant of financial assistance of a sum of Rs.25,00,000/- as Inter corporate Deposit on compound interest at the rate of 15% per annum compoundable on every 90 days.

5. Analysing the credibility of the defendant company the plaintiff company lent and advanced a sum of Rs. 25,00,000/- through Cheque No. 784804 dated 27th May 1998 which was encashed by the defendant company on 08.6.1998.

6. The defendant duly acknowledged the receipt of the said sum of money being Rs.25,00,000.00 (Rupees twenty five lakhs only) as loan vide letter dated 27.5.1998 issued by the plaintiff company and accepted by the defendant company, showing said the amount and rate of interest duly accepted by the defendant company.

7. From time to time the plaintiff company in terms of the said agreement used