1. A claim petition under Sec.446 (2) read with Sec.468, Companies Act, 1956 , was decreed for the sum of Rs.21,681.33 against the present appellants without any future interest, vide judgment dated December 6, 1974. The same has been challenged in the present letters patent appeal.

2. According to the averments in the claim petition, the appellants took a loan of Rs.21,000 from the respondent on May 22, 1964, and entered into a hire-purchase agreement on the same day in respect of truck No. PUN-6058 for Rs.26,880. According to the agreement, the loan and interest were payable in 24 instalments. The first instalment of Rs.1,120 was payable on July 21, 1964, and thereafter, monthly instalments of the said amount had to be paid from August 21, 1964, to June 21, 1966. Pronote and receipt in connection with the said loan were also executed. Some amount was paid in instalments from time to time and the last amount of Rs.9,500 was credited in the account of the appellants on December 1, 1967, after the sale of the said vehicle. Claim was made in the petition for the recovery of Rs.20,313.67 as principal and Rs.2,952.22 as interest for the period from April 1, 1970, to August 30,