M V RAMANA RAO Vs. N SUBASH

JUDGEMENT

(1.) Aggrieved by an order passed by the Commercial Court allowing an application for amendment of the written statement so as to include a plea of set-off, the plaintiff in a suit for recovery of money has come up with the above revision under Article 227 of the Constitution of India.

(2.) Heard Mr. Sharad Sanghi, learned counsel for the petitioner and Mr. R.A. Achuthanand, learned counsel for the respondent. BRIEF FACTS LEADING TO THE PRESENT REVISION:

(3.) The petitioner herein filed a suit in O.S. No.253 of 2011 on the file of the III Additional Chief Judge, City Civil Court, Hyderabad, for recovery of a sum of Rs.22,56,10,000/- (Rupees twenty two Crores Fifty Six Lakhs and Ten Thousand only) from the respondent herein together with interest. The case of the petitioner/plaintiff in the suit was that the plaintiff agreed to provide a sum of Rs.65.00 Crores to the respondent/ defendant for acquiring 10% share of the defendant s interest in the development of a vast extent of land measuring about Acs.22.00 and that pursuant to the said arrangement, the petitioner/plaintiff also paid a sum of Rs.14,65,00,000/- (Rupees Fourteen Crores and Sixty Five Lakhs only) on various dates during the period from 30.01.2008 to 16.09.2008; that due to economic slowdown, the proposed development of the property in the land belonging to the defendant and his friend could not go through and hence the defendant agreed in December, 2008 to repay the amounts paid by the plaintiff together with interest at 24% per annum; and that thereafter the respondent/defendant failed to honour the commitment forcing the petitioner to institute the suit.