Case Summary
Bank of Baroda filed a suit against Ratheesh P.S for recovery of an outstanding loan amount. The defendant defaulted on the repayment, leading to the bank declaring the loan as a Non-Performing Asset.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
₹5,82,016.68 with 9% interest per annum from the date of suit until realization
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The court found adequate proof from the plaintiff's unchallenged affidavit and documents supporting the claim for recovery.
The court found adequate proof from the plaintiff's unchallenged affidavit and documents supporting the claim for recovery.
Judgment Evidence:
In the result, the suit is decreed directing the defendant to pay an amount of ₹5,82,016.68 (Rupees Five Lakhs Eighty Two Thousand Sixteen point Sixty Eight Paise Only) with 9% interest per annum from the date of suit till the date of decree.
Parties Involved
Plaintiffs
Bank of Baroda (Age not specified years)
Kalamassery, Ernakulam - 683 104
Defendants
Ratheesh P.S (43 years years)
Pandikkattil, TOG road, Near glass factory, Kalamassery, Ernakulam - 683 104
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The court ordered the defendant to pay the outstanding amount due to the plaintiff.
Evidence:
The suit is decreed directing the defendant to pay an amount of ₹5,82,016.68 with 9% interest per annum from the date of suit till the date of decree.
Relief Type:
Interest
Outcome:
Partly Granted
Description:
Interest was granted at a specific rate until the realization of the decree amount.
Evidence:
In default, the plaintiff is entitled to recover the decree amount from the defendant and from his assets with post decretal interest @ 6% per annum.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
The plaintiff submitted this document to support the claim regarding the loan application made by the defendant.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
This letter was issued by the plaintiff and accepted by the defendant as proof of the sanctioned loan.
Reference:
Ext.A2
Document Type:
Letter of Sole Proprietorship
Submitted By:
Plaintiff
Relevance:
This document establishes the defendant's status as the sole proprietor.
Reference:
Ext.A3
Document Type:
Agreement for Composite Hypothecation
Submitted By:
Plaintiff
Relevance:
This agreement outlines the hypothecation details agreed upon by the parties.
Reference:
Ext.A4
Document Type:
Declaration cum Undertakings cum Authority
Submitted By:
Plaintiff
Relevance:
This document was executed by the defendant as part of the loan agreement.
Reference:
Ext.A5
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This note was issued by the plaintiff for ₹3,49,000/- and is relevant to the loan repayment.
Reference:
Ext.A6
Document Type:
Letter of installment with acceleration clause
Submitted By:
Plaintiff
Relevance:
This letter outlines the installment plan agreed upon by the defendant.
Reference:
Ext.A7
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This second note was issued by the plaintiff for ₹3,00,000/- and is part of the financial agreement.
Reference:
Ext.A8
Document Type:
Letter of Continuing Security
Submitted By:
Plaintiff
Relevance:
This letter executed by the defendant serves as ongoing security for the loans.
Reference:
Ext.A9
Document Type:
Letter of acknowledgment of debt
Submitted By:
Plaintiff
Relevance:
This letter indicates the defendant's acknowledgment of debt on the overdraft account.
Reference:
Ext.A10
Document Type:
Letters of Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
This document acknowledges the defendant's debt on the term loan.
Reference:
Ext.A11
Document Type:
Office copy of lawyer notice
Submitted By:
Plaintiff
Relevance:
This notice was issued by the plaintiff to demand repayment.
Reference:
Ext.A12
Document Type:
Notices Returned Unserved
Submitted By:
Plaintiff
Relevance:
These notices indicate attempts to contact the defendant that were unsuccessful.
Reference:
Ext.A13series
Document Type:
Certified Copy of Statement of Term Loan Account
Submitted By:
Plaintiff
Relevance:
This document provides a detailed statement of the defendant's term loan account.
Reference:
Ext.A14
Document Type:
Certified Copy of Statement of Overdraft Loan Account
Submitted By:
Plaintiff
Relevance:
This document provides a detailed statement of the defendant's overdraft account.
Reference:
Ext.A15