Swamikkannu, J.

1. This is an appeal preferred by defendants 4, 5, 6 and 7, Easwaran, Shanmugham, Sachithanandam and Kaliannan, against the judgment and decree dated 26th June, 1981, in O.S. No. 395 of 1980 on the file of the Court of Principal Subordinate Judge of Erode, in a suit on a promissory note, decreeing the same as prayed for with costs against all the defendants.

2. The case of the plaintiff (first respondent herein) before the Court below was as follows: The plaintiff the appellants herein and some others entered into a partnership deed on 12.7.74 under the name and style of Vallinayagi Financiers at Erode, which firm was registered under the Indian Partnership Act. The main business of the firm is money-lending. The plaintiff had contributed a sum of Rs. 25,000 towards the share capital. One of the partners by name M.N. Chinnaswamy Gounder, retired from the partnership on 31.3.1976, leaving the entire assets and liabilities to the other partners, who reconstituted the firm on and from 1.4.1976, and got a partnership deed executed on 25.5.1976. Defendants 2 and 3 (respondents 3 and 4 herein) were managing the business of the firm form commencement of the partnersh