The unsuccessful defendants 1 and 3 have preferred this appeal against the judgment and decree dated 24. 1994 made in O.S.No.11102 of 1988 on the file of 18th Assistant Judge, City Civil Court, Madras.

2. The respondent herein filed the suit seeking for a judgment and decree directing the defendants to pay the plaintiff a sum of Rs.70,459.92/- with interest at the rate of 16.5% per annum from the date of plaint till the date of realisation and for costs of the suit.

The case of the plaintiff is that the first defendant is a partnership Firm and defendants 2 to 7 are its partners and the first defendant opened a current account with the plaintiff on 19. 1987 in respect of its leather business and it was regularly issuing cheques to various parties and the plaintiff has been honouring those cheques and the first defendant issued three consecutive cheques all dated 20.11.1987 for Rs.29,789/-; Rs.334/- and Rs.75,000/- respectively and all the three cheques were drawn in favour of the Sales Tax Officer, Vepery Assessment Circle, Madras, and the plaintiff as a prudent banker and keeping in mind that the first defendant is a commercial organisation and the cheques were drawn o