Mortgage broker


PHOTO: STREETVIEW The High Court heard a dispute about who owned an apartment in this Sandringham block.

The owner of an mortgage broking firm has lost his court bid to have a former staff member pay more than $200,000 in the sale of an Auckland house.

Venugopal Chawdrapu and his wife were renting a property in Arabi St, Sandringham, and paying $250 a week.

But when they were told the property was to be sold, Chawdrapu asked his employer, Ajay Kumar, of Global Finance, if he would consider buying it and renting it back to them.

The fallout from that 2004 agreement saw the trustee company of Kumar’s family trust attempt to sue Chawdrapu in the Auckland High Court last year, to recover just over $211,000.