( 1 ) THIS order shall dispose of an application moved by defendants under Order 7 Rule 11 Code of Civil Procedure for rejection of plaint. Briefly the facts of the case are that plaintiffs have filed the present suit for recovery of rs. 44,19,573/- alongwith pendente lite and future interest at the rate of 27% per annum. Defendant No. 1 is a proprietorship concern of defendant No. 2. Plaintiffs on the asking of defendant No. 2 provided to defendant no. 1 Inter Corporate Deposit (hereinafter referred to as icd) loan for a period of 90 days at different times and rates of interest. The first ICD of Rs. 10 lakhs was advanced on 2/08/1994 for a period of 90 days with interest at the rate of 24% per annum. This loan was paid back with interest on 1/11/1994. Another icd for Rs. 10 lakhs was advanced on 9/11/1994 for 90 days with interest at the rate of 24% per annum. The third ICD for Rs. 15 lakhs was advanced on 16/11/1994 for 90 days. On 17/1/1995, post-dated cheques for Rs. 88,767. 00 and Rs. 59,175. 00 towards interest on third and second ICDs respectively were issued by defendants. Two cheques for principal amount were also issued. The cheques for interest were encas