1. The Defendant in OS.No.14336 of 2010, on the file of VII Additional City Civil Court, Chennai is the Appellant in this appeal.

2. The Defendant filed the suit originally in CS.No.1003 of 1999, before this Court. Later, the same was transferred to the VII Additional City Civil Court, Chennai and renumbered as OS.No.14336 of 2010.

3. The Respondent / Plaintiff filed the said suit for recovery of a sum of Rs.19,91,471/-, with interest at 25% p.a. from the Appellant / Defendant. The Plaintiff is a Government Company. The Defendant is also a Company registered under the Companies Act, 1956. The Plaintiff has been carrying on the business of export and import trade, as a canalising agent under the export and import policy of Government of India. The Plaintiff used to book purchase orders for shredded scraps of various parties abroad to customers who intended to purchase from abroad.

4. It is admitted that as between the Plaintiff and the Defendant, there is a contract, the Defendant is liable to pay price for the quantity of the goods purchased by it. In addition to the price, it is also stated that the Defendant is liable to pay the Plaintiff bank charges and service charges at 1.1% t