THE HON’BLE JUSTICE MOUSHUMI BHATTACHARYA AND THE HON’BLE JUSTICE B.R.MADHUSUDHAN RAO I.A.No.1 OF 2025 IN/AND COMCA No.1 of 2025 Sri Shyam S.Agrawal, learned counsel for the appellant.

Mr. Ashish Kale, learned counsel representing Ms. Sneha Bhogle, learned counsel for the respondent No.1.

COMMON ORDER: (Per Hon’ble. Justice Moushumi Bhattacharya)

1. The petitioner/appellant, M/s. Telangana State Industrial Development Corporation Limited, has challenged the impugned order and decree passed by the learned Commercial Court dated 16.02.2023, whereby the appellant’s Commercial Original Petition (C.O.P.No.38 of 2016) filed under section 31(1)(a) and (aa) of The State Financial Corporations Act, 1951, for a decree against the respondents for an amount of Rs.1,30,31,000/- with interest @ 17.5% per annum, was dismissed.

2. The present Appeal was filed on 26.12.2024 along with an application (I.A.No.1 of 2025) for condonation of a delay of 514 days in filing the Appeal. The parties have filed their respective affidavits in the I.A. The respondents have strongly objected to the condonation of delay.

3. We have heard learned counsel appearing for the petitioner/appellant and learned counsel appea