Hyderabad: The Supreme Court has allowed Cyrus Investments Pvt. Ltd to withdraw its case for the cancellation of General Power of Attorney given to Dr Ponnapula Sanjeeva Prasad to represent the firm in civil suits pending before courts. The GPA also empowered Dr Prasad to manage the firm’s properties that are subject matter of the Civil Suit No. 14 of 1958.
A two-member bench of the Supreme Court on July 4, while dealing with two interlocutory applications of the firm in two special leave petitions of 2014 for clarification of the Apex Court order dated September 2, 2015, considered the request of counsels appearing for Cyrus Investments Private Ltd to withdraw the two applications.
The applications enabled Dr Prasad to continue to represent and manage all the properties coming under Civil Suit No 14 of 1958. Counsels also submitted to the Supreme Court that they have reached a settlement with Dr Prasad with regard to the differences among them for the GPA and have filed Consent Terms before the Bombay High Court to withdraw the Declaratory Suit filed in the Bombay High Court.
