Sri. Ambica Sudarshan v. M/S. Gowra Leasing And Finance Ltd., And 2 Others

Date:10.01.2023 Between:

Sri Ambica Sudarshan, S/o Sri Veera Venkata Pothu Krishna Rao Perla, Aged 51 Years, Occ: Business, R/o Chadalawadavari Street, Power Peta, Eluru, West Godavari District.

.....Defendant/Appellant And

1. M/s. Gowra Leasing & Finance Limited, Represented by its Recovery Officer.L. vinod, Having Registered Office Corporate Office at 501, 5th floor, Gowra Grand, Behind Gowra Plaza, 18-384 & 385, S.P.Road, Begumpet, Secundrabad-3. .....Respondent/Plaintiff

2. M/s. Trinethra Infra Ventures Limited, Having Registered Office at 210 "Aditya Trade Center" 2nd Floor, Ameerpet, Hyderabad-500 016, Represented by its Managing Director, Sri V.V.R.R.L.Narsimha Prasad Pasumurthy.

3. Sri M. Narasimha Rao, Flat No.401, Sri Durga Harmony, H.No.6-3-5/1, Erramanzil Colony, Hyderabad.

.....Respondents/Defendants No.1 and 2 The Court made the following:

- 2 - ORAL ORDER : (Per Hon'ble Sri Justice P.Naveen Rao) Heard Sri Parsa Ananth Nageshwar Rao, learned counsel for the petitioner and Sri Srinivas Polavarapu, learned counsel for the respondent.

2.

The appellant is defendant in O.S.No.194 of 2012, vide judgment and decree dated 23.12.2021 learned trial Judge decreed the suit for a sum of Rs.62,56,581/- making the defendants jointly and severally liable and also awarded interest @ 12% per annum from the date of suit till the date of decree and thereafter @ 6% per annum till the pendency of this appeal.

3.

The appellant and first respondent/plaintiff have come to an understanding for resolution of the dispute and they have entered into a Memorandum of Compromise, signed on 28.12.2012. By this Memorandum of Settlement the appellant has undertaken to pay Rs.1,25,00,000/- to the plaintiff/first respondent as full and final settlement. An amount of Rs.25,00,000/- is already paid and four cheques are issued for payment of the balance amount with the date of payment as 25.02.2023, 25.04.2023, 25.05.2023 and 25.06.2023.

- 3 - 4.

Sri L. Vinod, Recovery Officer M/s. Gowra Leasing & Finance Limited and Sri A. Sudershan are present in the Court and they are identified by both the learned counsel. Both parties have agreed for resolution of the dispute and copy of the terms and conditions of the Memorandum of Compromise filed along with I.A.No.1 of 2023 is taken on record.

5.

It resolved the dispute regarding the claim in the present appeal as well as suit claim in O.S.No.167 of 2012 on the file of Chief Judge, City Civil Court, Hyderabad.

6.

Accordingly, this appeal is disposed of. Miscellaneous petitions, pending if any, shall stand closed. ____________________ P. NAVEEN RAO, J ____________________________ NAGESH BHEEMAPAKA, J Date: 10.01.2023 VRKS

- 4 - Date:10.01.2023 VRKS