THE HON’BLE JUSTICE B.R.MADHUSUDHAN RAO APPEAL SUIT NO.304 OF 2020

JUDGMENT:

1. This Appeal is filed by the appellant aggrieved by the judgment and decree passed by the learned XII Additional District and Sessions Judge, Vikarabad, Ranga Reddy District (for short, ‘the Trial Court’) in O.S.No.29 of 2014, dated

31.12.2019.

2. Appellant is the defendant and respondent is the plaintiff in the suit. For the sake of convenience, the parties will be hereinafter referred to as the plaintiff and the defendant.

3.1 The plaintiff has filed suit for recovery of an amount of Rs.10,08,912/- from the defendant together with interest at the rate of 18% per annum and costs.

3.2 Plaintiff and defendant are known to each other for the last several years and they were in the business. The defendant during the course of business transaction has purchased food grains, pulses from the plaintiff, to that effect the defendant fell due an amount of Rs.10,08,912/- as per the accounts settled on 06.08.2011. Plaintiff demanded the defendant to pay the amount on the date of settlement of the account but the defendant has requested for time thereby Memorandum of Understanding (MOU) was executed on 19.08.2011. As pe