The petitioner is the defendant in the suit O.S.No.7280 of 2000 on the file of the XV Assistant Judge, City Civil Court, Chennai. The respondent/plaintiff filed the suit for recovery of a sum of Rs.34,504.90 towards principal and interest by the petitioner/defendant.

2. The brief facts of the plaint are as follows:-

The plaintiff is a manufacturer of steel strips. On 11.11.1997 under Invoice No.333/97-98, rolled steel strips for the value of Rs.20,297/- were supplied to the defendant and as per the terms of payment, seven days credit was also allowed. The defendant failed to pay the amount within seven days from the date of invoice, and he issued a cheque to the plaintiff on 28.01.2000. When presented, the cheque bounced with an endorsement “insufficient funds” on 10.05.2000. A statutory notice was issued to the defendant and its Director on 25.05.2000 demanding the payment of above referred cheque amount within 15 days from the date of receipt of the notice. The defendant sent a belated replay on 10.07.2000, wherein he not only admitted the dishonour of the cheque, but also denied his liability to pay the entire suit amount. Hence the suit for recovery of Rs.20,297/- tow