HIGH COURT OF ANDHRA PRADESH

* * * *

CIVIL MISCELLANEOUS APPEAL No. 698 of 2024

Between:

Mohammed Vasee

.....APPELLANT

AND

M/s.Alakananda Townships Pvt. Ltd. Rep.by its M.D.Vasupalli Rajashekar

Visakhapatnam

.....RESPONDENT

DATE OF JUDGMENT PRONOUNCED: 09.07.2025

SUBMITTED FOR APPROVAL:

THE HON'BLE SRI JUSTICE RAVI NATH TILHARI

&

THE HON'BLE SRI JUSTICE CHALLA GUNARANJAN

1. Whether Reporters of Local newspapers Yes/No

may be allowed to see the Judgments?

2. Whether the copies of judgment may be Yes/No

marked to Law Reporters/Journals

3. Whether Your Lordships wish to see the Yes/No

fair copy of the Judgment?

_______________________

RAVI NATH TILHARI, J

_______________________

CHALLA GUNARANJAN, J

* THE HON'BLE SRI JUSTICE RAVI NATH TILHARI &

THE HON'BLE SRI JUSTICE CHALLA GUNARANJAN + CIVIL MISCELLANEOUS APPEAL No. 698 of 2024 % 09.07.2025 Between:

Mohammed Vasee .....APPELLANT AND M/s.Alakananda Townships Pvt. Ltd. Rep.by its M.D.Vasupalli Rajashekar Visakhapatnam .....RESPONDENT ! Counsel for the Appellant : Sri M. R. S. Srinivas Counsel for the Respondent : Sri V. V. Saketh Roy < Gist :

> Head Note:

? Cases Referred:

1. 2023 (2) ALD 47 (AP)

2. (2008) 2 SCC 302

3. 2003 SCC OnLine Cal 320 4. 2009 SCC OnLine AP 708 5. 1951 SCC OnLine Cal 20

6. 2024 SCC OnLine SC 3538

7. (1992) 1 SCC 719 8. (2024) 7 SCC 183

9. 1990 Supp SCC 727

10. (1960) SCC OnLine SC 62

11. (2013) 9 SCC 221 THE HON’BLE SRI JUSTICE RAVI NATH TILHARI &

THE HON’BL SRI JUSTICE CHALLA GUNARANJAN CIVIL MISCELLANEOUS APPEAL No. 698 of 2024 JUDGMENT: (per Hon’ble Sri Justice Ravi Nath Tilhari)

Heard Sri M. R. S. Srinivas, learned counsel for the Appellant and Sri V.

V. Saketh Roy, learned senior counsel for the Respondent.

2. The present appeal under Order 43 Rule 1 of Code of Civil Procedure (CPC) has been filed by the appellant/defendant in Commercial Original Suit (in short ‘COS’) No.14 of 2023, pending in the Court of the Special Judge for trail and disposal of Commercial Disputes, Visakhapatnam (in short ‘Special Court’), being aggrieved from the Order dated 09.08.2024 passed in I.A.No.458 of 2023, whereby inter alia the attachment of the petition schedule land effected vide earlier Order dated 10.11.2023 in the said COS has been made absolute, also granting liberty to the defendant to seek modification of the attachment according to law, and providing that, which, if sought would be decided on its own merits.

I. FACTS:

i) Plaintiff’s case:

3. The COS was filed by the plaintiff/respondent for recovery of amount of Rs.3,19,75,543/- (Rupees three crore nineteen lakh seventy five thousand five hundred and forty three only) said to be due and payable by the defendant on the strength of a Memorandum of Understanding (in short ‘MOU’) dated

05.11.2020 and a consequent default thereof on its part.

4. The plaintiff/respondent’s case, stated briefly, was that the plaintiff was a Company incorporated under the provisions of the Indian Companies Act, engaged in the business of real estate, construction, and other allied activities. In the course of its business, the plaintiff developed the property by purchasing lands and also entered into development agreements for developing lands into layouts by obtaining necessary permissions, creating infrastructure etc., on a profit sharing/project sharing basis. The plaintiff had also undertaken construction of residential houses/apartments/villas depending on the agreements with landowners, and apart from development of layouts, the plaintiff also undertook marketing and selling of properties developed by the third parties for profit. In pursuance of such business, the defendant who was the absolute owner of total extent of Ac.10.12½ cents situated in Kukalametta Lakshmipuram village, Vizianagaram district, had offered to get the project marketed by the plaintiff. The defendant had acquired the said property under various valid deeds of conveyance and the defendant had offered to develop the same into a residential community consisting of 200 duplex houses (villas) to be built