A. KULASEKARAN, J. :- Plaintiff is the appellant in this appeal.

2. The suit in C. S. No. 346/83 was filed for recovery of an amount of Rs.6,73,817.21 together with interest at the contract rates on the respective principal amounts viz., Rs.1,28,242.62 in respect of Medium Term Loan and a sum of Rs.1,40,841.98 in respect of UDA/DP. M/s. Om Parasakthi Mills Limited, Coimbatore has availed the facilities of term loans and as on 10-9-1969 a sum of Rs.5,73,223.11 was due to the plaintiff. On 15-9-1969, the said Mill was taken over under the provisions of Industries (Development and Regulations) Act, 1951 and was subsequently nationalised under the provisions of the Sick Textiles Undertaking (Nationalisation) Act, 1974. At the time of nationalisation, defendants 2 and 3 requested the plaintiff to grant further loan facilities and they have executed the necessary guarantees in favour of the plaintiff. Later, the plaintiff has preferred a claim before the Commissioner of Payments under the Nationalisation Act claiming the amounts due under the various facilities. By award dated 12-1-1979, the Assistant Commissioner of Payments had recognised and passed orders for payment of Rs.8,6