"Docker compose: command not found" – Despite configuring the path and making file as executable

I am new to Docker. I would like to run a docker-compose file. I have my docker-compose installed and please find below the details

which docker-compose
# returns usr/local/bin/docker-compose
docker-compose -v
# returns docker-compose version 1.24.0, build 0aa59064

I was referring the STACK OVERFLOW posts and was able to find something regarding the PATH variable, so I have also placed my docker-compose in /usr/bin/ path as well.
So, the below command

find /usr/bin/ -name "docker-compose"
# returns /usr/bin/docker-compose

In addition, I made the files under both paths executable by using “chmod +x” command under respective folders.

So when I finally try to execute my docker-compose.yml file, I get the below error

sudo ./docker-compose up - I am executing this command right in the folder where docker-compose.yml file is present

And I get the below error,

sudo: ./docker-compose: command not found

How can I execute my docker-compose.yml file without any issues and start my containers. Am I making any mistakes while making it as an executable file?

Source: StackOverflow