POPULAR AUTOMOBILES Vs. EDDY CURRENT CONTROLS INDIA LTD

JUDGEMENT

(1.) APPEAL A. S. 751 of 1992 arises out of the judgment and decree in O. S. 58 of 1989 and A. S. 328 of 1993 arises out of O. S. 287 of 1987 on the file of the 1st Additional Sub Court, ernakulam.

(2.) PLAINTIFFS in O. S. 287 of 1987 are the partners of m/s. Popular Automobiles, a registered partnership firm. The second plaintiff is representing the other plaintiffs as Power of Attorney holder. M/s. Popular mill Stores is a proprietorship concern owned by the firm M/s. Popular automobiles. The first defendant is a public limited company and the other defendants are its officials. The plaintiff in O. S. 58 of 1989 is the firm popular Automobiles, represented by its partner and the defendant is a public limited company by name M/s. Eddy Current Controls ( India )Ltd. with registered Office at Eddypuram, Chalakudy.

(3.) THE first defendant denied the claim of the plaintiffs. According to him, the transaction was between the first defendant and M/ s. Popular Mills Stores, which is a different entity. THE firm is not duly registered or represented though it is admitted that they are dealing with popular mill stores there was no agreement to pay interest at the rate of 24% as alleged. According to him, as on 30. 11. 1986, Rs. 11,671. 05 alone is due to the plaintiff. Only an amount of Rs. 15,746/- is due with 18% interest. According to the first defendant, amounts are due to him from the plaintiffs. Hence they are entitled to set off against the amount due from the plaintiffs. According to the first defendant, the defendants have supplied rubber beadings to the plaintiff and the prices of those rubber beadings with interest is due. As per seven invoices the balance amount said to be due to him after deducting the amount as per credit note issued by him is Rs. 25, 941/ -. THE plaintiffs are also liable to pay interest at 18%.