Bhaskaran, J.

Defendants in O.S.No.961 of 1994 on the file of the Principal Sub Court, Kottayam, are the appellants in the appeal. The suit was for realisation of money allegedly due from the defendants to the plaintiff. The plaintiff is a partnership firm engaged in money lending business. The amounts are claimed from different defendants on different accounts and a single suit is filed in respect of all the accounts. Defendants 1 to 3 are partnership firms of which defendants 4 to 6 are partners. 7th defendant is also a partner of the 3rd partners defendant firm and he is not a partner of other partnership firms. The trial court has granted a decree almost in terms of the prayer in the plaint.

2. The case of the plaintiff is as follows. At the request of defendants 1, 4, 5 and 6 for credit facility to carry on their business under the name and style “M/s. Madappallil Brothers”, the plaintiff sanctioned a loan of Rs.3,00,000/- on 26-5-1986, another loan of Rs.1,00,000/- on 21-11-1986 and yet another loan of Rs.1,08,333.33 on 9-5-1987 in the account of the 1st defendant. Defendants 1, 4, 5 and 6 executed demand promissory note for Rs.3,00,000/- on 26-5-1986, another promissory note for Rs.1,00,000/- on 21-11-1986 agreeing to repay the amounts with interest thereon at the rate of 24.5% per annum with quarterly rest and another promissory note for Rs.1,08,333.33 on 9-5-1987 agreeing to repay the amount with interest thereon at the rate of 18.5% per annum with quarterly rest. At the request of defendants 2, 4, 5 and 6 for credit facility to carry on their business under the name and style “M/s. Madappallil Agencies”, the plaintiff sanctioned a loan of Rs.1,50,000/- on 26-6-1986. Defendants 2, 4, 5 and 6 executed demand promissory note for Rs.1,50,000/- on 26-6-1986 agreeing to repay the amount with interest thereon at the rate of 24.5% per annum with quarterly rest. At the request of defendants 4, 5 and 6 for credit facility to carry on their business in their individual capacities apart from their status as partners of defendants 1 to 3 firms, the plaintiff sanctioned a loan of Rs.2,00,000/- on 10-11-1986 and on their further request sanctioned a further loan of Rs.2,00,000/- on 21-11-1986. To secure the aforesaid two loans, defendants 4, 5 and 6 executed a demand promissory note for Rs.2,00,000/- on 10-11-1986 and another demand promissory note on 21-11-1986 in favour of the plaintiff agreeing to repay the amount with interest thereon at the rate of 24.5% per annum with quarterly rest. At the request of defendants 3, 4 5, 6 and 7 for credit facility to carry on their business under the name and stayle “M/s. L.P.R. Brothers”, the plaintiff sanctioned a loan of Rs.1,50,000/- on 26-6-1986 in the account of the 3rd defendant. To secure the above-said loan, defendants 3, 4, 5 and 6 executed a demand promissory note for Rs.1,50,000/- on 26-6-1986 in favour of the plaintiff agreeing to repay the amount with interest thereon at the rate of 24.5% per annum with quarterly rest. As collateral security for the above-said various loans availed by defendants 4, 5 and 6, they deposited their title deeds relating to their property described in the schedule to the plaint at the office of the plaintiff situated in Kottayam on 11-5-1987 with intent to create equitable mortgage by way of security for the amounts due to the plaintiff from the defendants and executed a letter in favour of the plaintiff acknowledging the deposit of title deeds. After availing the loans, the defendants made payments which have been credited in their account. Since substantial amounts were due, a lawyer notice was sent on 26-9-1994 demanding the entire balance amount. The transactions between the parties are commercial transactions and the plaintiff is entitled to collect interest at the rate of 24.5% per annum with quarterly rest from the date of suit till realisation except for a loan of Rs.1,08,333.33 for which 18.5% was the interest agreed upon. It is als