Case Summary
The plaintiff, Ace Finlease Pvt.Ltd, filed a suit against the defendants, Binshad.P and Irfana.V, for the recovery of a loan amount. The defendants defaulted on their payment obligations per the loan agreement, leading the plaintiff to seek judicial intervention for recovery.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendants are directed to pay an amount of Rs.2,19,404/- with future interest at 12% per annum from the date of suit till the date of decree.
Case Type
Civil Suit
Final Judgment
No
The court ruled in favor of the plaintiff, ordering the defendants to pay a total amount due along with applicable interest.
Why Plaintiff Won:
The plaintiff proved their case successfully with unchallenged evidence regarding the loan agreement and default in payments.
The plaintiff proved their case successfully with unchallenged evidence regarding the loan agreement and default in payments.
Losing Side's Weaknesses:
The plaintiff proved their case successfully with unchallenged evidence regarding the loan agreement and default in payments.
The plaintiff proved their case successfully with unchallenged evidence regarding the loan agreement and default in payments.
Supporting Evidence
The evidence of PW1 and the documents produced by him remains unchallenged. As such, I find that the plaintiff had proved his case and is entitled to a decree as prayed for.
Judgment Evidence:
In the result, suit is decreed as follows: The defendants are directed to pay an amount of Rs.2,19,404/- (Rupees two lakhs nineteen thousand four hundred and four only) with future interest at 12% per annum from the date of suit till the date of decree.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Ace Finlease Pvt.Ltd
- Party Role
- Defendant
- Party Name
- Binshad.P
- Party Age
- 41
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Irfana.V
- Relation
- D/o
Plaintiffs Documents
Certified copy of Power of Attorney, Loan agreement executed between plaintiff and defendant, Promissory note executed by Defendant to plaintiff, Encumbrance certificate issued by Department of Registration, Certified extract of the computerised ledger account maintained by the plaintiff with respect to the transaction of Defendant during the period from 19.11.2019 to 31.03.2021.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri.C.K.Premanand
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Smt.Jishara.V.R
- Appearance Type
- Assisting Counsel
- Party Role
- Defendant
- Advocate Name
- Sri.Rajeesh.K
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendants are directed to pay an amount of Rs.2,19,404/- with interest.
Evidence:
The defendants are directed to pay an amount of Rs.2,19,404/- (Rupees two lakhs nineteen thousand four hundred and four only) with future interest at 12% per annum from the date of suit till the date of decree.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff entitled to realize costs of the suit from the defendants.
Evidence:
The plaintiff is also entitled to realize costs of the suit from the defendants.
Documents & Evidence
Document Type:
Power of Attorney
Submitted By:
Plaintiff
Relevance:
Certified copy of Power of Attorney supporting the plaintiff's authority.
Reference:
Ext.A1
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
Loan agreement executed between plaintiff and defendant detailing the terms of the loan.
Reference:
Ext.A2
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
Promissory note executed by Defendant to plaintiff reaffirming the debt.
Reference:
Ext.A3
Document Type:
Encumbrance certificate
Submitted By:
Plaintiff
Relevance:
Encumbrance certificate issued to establish the status of the property.
Reference:
Ext.A4
Document Type:
Computerized Ledger Account
Submitted By:
Plaintiff
Relevance:
Certified extract of the computerized ledger account maintained by the plaintiff detailing transactions.
Reference:
Ext.A5
Case Classification
Case Type
Civil Suit
Category
Other Civil Cases
District
Kozhikode
State
Kerala
Court Establishment
Munsiff Court 2 Kozhikode
Common Reasons
Case Code
Case between Ace Finlease Pvt.Ltd vs Binshad.P et al regarding realization of money
Case Code Year
Case between Ace Finlease Pvt.Ltd vs Binshad.P et al regarding realization of money
Case Flags
Cheque-Related Case
Nature of Cheque Case
Cheque Dishonour