( 1 ) PLAINTIFF filed suit under the provision of Order XXXVII CPC, inter alia, alleging that it is a partnership firm duly registered under the Indian Partnership Act and Prashant Mendiratta, who signed and verified the plaint and instituted the suit, is one of the partners thereof. Plaintiff has been carrying business of manufacture and supply of tubelight chokes, fittings and fixtures for the last more than 28 years. On Ashok Aggarwal, managing director of the defendant-company, approaching the plaintiff in or around 1993, the plaintiff agreed to supply aforesaid goods to the defendant on credit basis for a specified period of 45 days. In case the payment was delayed, it was expressly agreed that interest @ 24% per annum will be paid by the defendant for the period of default in payment. Plaintiff supplied the aforesaid goods which were duly received by the defendant against bills/challans over a period from September 1993 to August 21, 1995. It is alleged that as the volume of business increased defendant started committing defaults in making the payment by the due dates. In para 10 details of the outstanding bills have been given as below:-

( 2 ) AFORESAID bills