Honble CHAUHAN, J.–The repayment of loan of Rs. 1,36,04,491/- by the Appellants, M/s. N.L.P. Organics Pvt. Ltd. to the Rajasthan Financial Corporation (henceforth to be referred to as the Respondent, for short) along with an interest of 15% per annum forms the background of this appeal. The Appellants are challenging the Order dated 23.11.2004 passed by the Additional District Judge No. 1, Alwar where by the Learned Judge has allowed the application filed by the Respondent under Section 31 of the State Financial Corporation Act, 1951 (henceforth to be referred to as the Act of 1951, for short) and has directed the Appellants to pay the above mentioned amount at the abovementioned rate of interest.

(2). The Appellants applied for a loan of Rs. 40.28 Lakhs (revised to Rs. 30.90 Lakhs) to the Respondent. Vide Order dated 13.2.87, the Respondent sanctioned a loan of only Rs. 30,90,000/- for the industrial project at Bhiwadi for the manufacturing of drugs and drug formulation. It was agreed between the Respondent and the Appellant that the loan shall be repayable in five years in quarterly installments. As far as the interest rate was concerned, it was agreed that interest should be 5% a

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