JUDGMENT

Pattanaik, J.-Leave granted.

2. This appeal by special leave is directed against the Judgment of the Division Bench of the Madras High Court dated 6.9.1995 in O.S.A. No. 112 of 1987. The plaintiffs who are the respondents in this appeal filed the suit on the original side of the High Court for recovery of a sum of Rs. 46,08,820/- together with interest at 18% per annum. It was alleged in the plaint that the defendants who are appellants in this appeal invited tenders for transportation of iron and steel materials including unloading, weighment and stocking from various stockyards of the suppliers to the destination stores during the period 1.9.1978 to 31.8.1979. In pursuance of the aforesaid advertisement the Plaintiff No. 1 submitted his tender on 12.7.1978 and along with tender submitted, a letter was also enclosed. This offer of the plaintiff was accepted and an agreement was entered into. In accordance with the agreement the plaintiff furnished a bank guarantee and deposited the necessary earnest money and commenced the work of transport of materials. It was further alleged that the plaintiffs carried the material and delivered the same at various destinations as per the