( 1 ) THIS is the defendants first appeal against the judgment and decree dated 5. 4. 1994 rendered by the 2nd Joint Civil Judge, (Sr. Dn.), Nadiad decreeing the suit of the plaintiffs respondents for recovery of Rs. 4,42,449. 00 together with interest at the rate of 18% p. a. and pendente lite and future interest also at the same rate.

( 2 ) BRIEF facts giving rise to this appeal are as under:the plaintiffs respondents are carrying on business in finances in the name of Krushnakant Madhusudan Shroff and it is a partnership firm. The defendant appellant is carrying on its business in the name and style of M/s. Bharat Agriculture Corporation which is the proprietary concern of the defendant appellant. The defendant appellant was in need of finances for his business. So, he approached the plaintiffs and opened account on 10. 7. 1973. From time to time, the defendant was taking money from the plaintiff. For the outstanding dues including interest, the defendant executed promissory note on 3. 2. 1987 for a sum of Rs. 4,42,449. 00 in favour of the plaintiff and signed the same as a proprietor of the defendant firm. The interest was agreed to be paid at the rate of 18% per annum. Since n

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