L. NARASIMHA REDDY, BILAL NAZKI J.

( 1 ) THIS is an appeal by the unsuccessful plaintiff in O. S. No. 1021 of 1987 on the file of the 1st Additional Judge, City Civil Courts, hyderabad.

( 2 ) THE appellant filed the suit against the respondents for recovery of a sum of rs. 3,47,850/- together with interest. It was pleaded by the appellant that herself, the 2nd respondent, the wife of the 3rd respondent and another constituted a partnership firm on 21-6-1982 to carry on the business of manufacture and sale of cement concrete sleepers and poles and other products. The 1st respondent, which is a private Limited Company, took over the assets and liabilities of the partnership firm referred to above. The 2nd respondent acted as the Managing Director of the 1st respondent-Company. Acting on behalf of the 1st respondent, the 2nd respondent executed a promissory note in favour of the appellant undertaking to pay an amount of rs. 2,25,000/- with interest at 18% per annum. The 3rd respondent figured as a witness to the same. Since the amount was not paid in sp (te of several demands, the appellant got issued a legal notice calling upon the respondents to pay the amount covered by the promiss

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