Case Summary
The case involves Bank of Baroda suing M/s. M. K. S Agencies and Suresh M. K for the recovery of a loan amount that has not been repaid. The defendants failed to appear in court and the case proceeded ex parte.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants directed to pay an amount of 9,77,851/- with interest at the rate of 6% per annum.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The case of the plaintiff stands proved through uncontested evidence.
The case of the plaintiff stands proved through uncontested evidence.
Judgment Evidence:
In the result, the suit is decreed as follows: The defendants are directed to pay to the plaintiff, an amount of 9,77,851/- with interest at the rate of 6% per annum from the date of institution of the suit, till its realization from the defendants or their assets.
Parties Involved
Plaintiffs
Bank of Baroda, Kakkanad Branch (Age not specified years)
S. N. S Samithi Building, Ground Floor, KINFRA Road, Kakkanad P.O, Ernakulam - 682 030
Defendants
M/s. M. K. S Agencies (Age not specified years)
Manakkakadavu, Thengode P. O, Ernakulam, Pin: - 682 030
Suresh M. K (47 years years)
Makayiram Nivas, Pallikkara, Moonelumukal, Pazhamthottam P.O, Ernakulam, Pin:- 683 565
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover an amount from the defendants.
Evidence:
the defendants owe a total amount of 9,77,851.05/- to the plaintiff.
Relief Type:
Interest
Outcome:
Granted
Description:
Interest at the rate of 6% per annum to be paid from the date of institution of the suit.
Evidence:
with interest at the rate of 6% per annum from the date of institution of the suit.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff is entitled to the costs of the suit from the defendants.
Evidence:
the plaintiff is entitled to the costs of the suit from the defendants.
Documents & Evidence
Document Type:
Application form for Pradhan Mantri Mudra Yojana Loan
Submitted By:
Plaintiff
Relevance:
Document showing loan application submitted by the defendant.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Document confirming the sanctioning of the loan to the defendant.
Reference:
Ext.A2
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Agreement outlining the terms of hypothecation for the loan.
Reference:
Ext.A3
Document Type:
Declarations cum undertakings cum authority
Submitted By:
Plaintiff
Relevance:
Document detailing the undertakings and declarations made by the borrower.
Reference:
Ext.A4
Document Type:
Demand Promissory Note for Sole-Proprietorship firm
Submitted By:
Plaintiff
Relevance:
Promissory note evidencing the debt obligation of the defendant.
Reference:
Ext.A5
Document Type:
Letter of Continuing Security
Submitted By:
Plaintiff
Relevance:
Letter ensuring continuing security for the loan.
Reference:
Ext.A6
Document Type:
General Undertaking
Submitted By:
Plaintiff
Relevance:
General undertaking by the borrower regarding the loan.
Reference:
Ext.A7
Document Type:
Letter of Sole Proprietorship
Submitted By:
Plaintiff
Relevance:
Document confirming the sole proprietorship of the business availing the loan.
Reference:
Ext.A8
Document Type:
Application form for BOB Guaranteed Emergency Credit line Scheme
Submitted By:
Plaintiff
Relevance:
Application for availing additional credit.
Reference:
Ext.A9
Document Type:
Acceptance of offer for pre-approved BOB Guaranteed Emergency Credit Line Scheme
Submitted By:
Plaintiff
Relevance:
Document acknowledging acceptance of the credit line offer.
Reference:
Ext.A10
Document Type:
Loan -cum – hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Agreement related to the hypothecation of the loan.
Reference:
Ext.A11
Document Type:
Undertaking letter from borrower
Submitted By:
Plaintiff
Relevance:
Letter underscoring the undertakings taken by the borrower.
Reference:
Ext.A12
Document Type:
Application for availing relief Under Resolution Frame work for Covid -19 Related Stress
Submitted By:
Plaintiff
Relevance:
Application for relief due to financial stress caused by the pandemic.
Reference:
Ext.A13
Document Type:
Draft Sanction Letter
Submitted By:
Plaintiff
Relevance:
Draft letter sanctioning relief related to pandemic-induced stress.
Reference:
Ext.A14
Document Type:
Draft legal documents
Submitted By:
Plaintiff
Relevance:
Draft documents related to the procedures undertaken.
Reference:
Ext.A15
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Further hypothecation agreement related to subsequent loans.
Reference:
Ext.A16
Document Type:
Declaration Cum Undertakings – Cum – Authority
Submitted By:
Plaintiff
Relevance:
Further declarations and undertakings by the borrower.
Reference:
Ext.A17
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Another note evidencing the demand for repayment.
Reference:
Ext.A18
Document Type:
Letter of installment with acceleration clause
Submitted By:
Plaintiff
Relevance:
Letter detailing installment terms including acceleration of payment.
Reference:
Ext.A19
Document Type:
Letter of Sole -Proprietorship
Submitted By:
Plaintiff
Relevance:
Further confirmation of sole proprietorship.
Reference:
Ext.A20
Document Type:
Letter of acknowledgment of debt
Submitted By:
Plaintiff
Relevance:
Document acknowledging the debt owed by the defendants.
Reference:
Ext.A21
Document Type:
Letter of acknowledgment of debt
Submitted By:
Plaintiff
Relevance:
Further acknowledgment of the debt.
Reference:
Ext.A22
Document Type:
Letter of acknowledgment of debt
Submitted By:
Plaintiff
Relevance:
Another acknowledgment of debt.
Reference:
Ext.A23
Document Type:
Legal Notice
Submitted By:
Plaintiff
Relevance:
Notice issued for recovery of debt.
Reference:
Ext.A24
Document Type:
Returned Postal cover
Submitted By:
Plaintiff
Relevance:
Proof of delivery for legal notice.
Reference:
Ext.A24(a)
Document Type:
Computer print out of Statement of Account with certificate u/s. 2 A(b) and 2 A (c) of Bankers Books Evidence Act
Submitted By:
Plaintiff
Relevance:
Statement of account demonstrating the financial transactions.
Reference:
Ext.A25
Document Type:
Computer print out of Statement of Account with certificate u/s. 2 A(b) and 2 A (c) of Bankers Books Evidence Act
Submitted By:
Plaintiff
Relevance:
Further statement of account for review.
Reference:
Ext.A26
Document Type:
Computer print out of Statement of Account with certificate u/s. 2 A(b) and 2 A (c) of Bankers Books Evidence Act
Submitted By:
Plaintiff
Relevance:
Another statement of account showing relevant details.
Reference:
Ext.A27
Document Type:
Computer print out of Statement of Account with certificate u/s. 2 A(b) and 2 A (c) of Bankers Books Evidence Act
Submitted By:
Plaintiff
Relevance:
Final statement showcasing account details relevant to the suit.
Reference:
Ext.A28