Ayillyath Yadunath Nambiar vs P. Sreedharan

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

2022 Supreme(SC) 733

HEMANT GUPTA, VIKRAM NATH
Ayillyath Yadunath Nambiar – Appellant
Versus
P. Sreedharan – Respondent

Advocates appeared:
For the parties :Harshvardhan Pandey, Omanakuttan K. K., Nidhesh Gupta, V. Chitambaresh, Kuriakose Varghese, V. Shyamohan, Surya Prakash, Akshat Gogna, Astu Khandelwal, Japneet Kaur, For M/S. Kmnp Law, Advocates

JUDGMENT :

Vikram Nath, J.

1. These two appeals assail the correctness of same judgment and order of Kerala High Court dated 12.04.2018 passed in RFA No.269 of 2008 between Puthiyonnan Sreedharan versus Ayillyath Yadunath Nambiar, whereby the said first appeal filed by the defendant was partly allowed; the decree of the Trial Court for specific performance of contract was set aside, however, the defendant was held liable to pay an amount of Rs.50 lakhs with interest @12% per annum from 20.01.2005 till realization and also to bear entire cost of proceedings both at the trial level and at the appellate level.

2. Civil Appeal No.4943 of 2022 has been filed by the plaintiff with the prayer to restore the decree of the Trial Court whereas Civil Appeal No.4944 of 2022 has been filed by the defendant praying for dismissal of the suit. In view of the cross appeals, the parties are referred to as the plaintiff and the defendant hereinafter.

3. The defendant is the owner of both the properties mentioned in the schedule of the property appended to the plaint. According to the plaintiff, the defendant required substantial amount of cash urgently to liquidate his loans which he had taken from certa