HON’BLE SRI JUSTI CE NARSI NG RAO NANDI KONDA APPEAL SUI T No.350 of 2011

JUDGMENT:

This first appeal is filed by the appellant/

defendant No.1 under Section 96 of the Civil Procedure Code, 1908 (for short, ‘the CPC’) aggrieved by the judgment and decree dated 10.08.2010 passed in O.S. No.418 of 2006 on the file of the learned First Additional Senior Civil Judge, Warangal, wherein the said suit filed by the respondents/plaintiffs was decreed.

2. Heard Sri C.M.R. Velu, learned counsel appearing for the appellant and Sri K.P. Vijay Kumar, learned counsel for respondent No.1 who appeared virtually.

3. For the sake of convenience, the parties herein are referred to as they are arrayed in the suit.

4. The brief facts of the case are that the plaintiff, who is the Chit Fund Company registered under the Companies Act, has filed a suit against defendant No.1 herein and respondents No.2 to 8 for recovery of a sum of Rs.7,57,889/- together with subsequent interest at the rate of 12% per annum and for costs. Defendant No.1 joined as a member of the chit bearing No.WMT 40 M 50. The value of the chit is Rs.10,00,000/- which is to be paid in 50 installments at Rs.20,000/- per month. Accordingly, he