Case Summary
Bank of Baroda has filed a suit against Sainu Rethesh for the recovery of a Mudra Term Loan amounting to Rs. 9,26,641.24. The defendant has failed to repay the loan despite legal notice and requests.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Recovery of Rs. 9,26,641.24 along with interest and costs
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, allowing them to recover Rs. 9,26,641.24 along with interest and costs. The defendant's failure to repay the loan led to this decision.
Why Plaintiff Won:
The unrebutted oral testimony and evidence established the plaintiff's claim against the defendant.
The unrebutted oral testimony and evidence established the plaintiff's claim against the defendant.
Losing Side's Weaknesses:
The unrebutted oral testimony and evidence established the plaintiff's claim against the defendant.
The unrebutted oral testimony and evidence established the plaintiff's claim against the defendant.
Supporting Evidence
The unrebutted oral testimony of PW1 and Exts. A1 to A11 established the case as pleaded by the plaintiff.
Judgment Evidence:
In the result, suit is decreed as follows: 1.Plaintiff is entitled to realize Rs.9,26,641.24/- from the defendant and from his assets.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Bank of Baroda
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Sainu Rethesh
- Party Age
- 42
- Relation
- W/o
Plaintiffs Documents
Original loan sanction letter dated 30.11.2018, Original Demand Promissory Note dated 30.11.2018, Original letter of installment with acceleration clause dated 30.11.2018, Original letter of sole proprietorship dated 30.11.2018, Original declarations cum undertakings cum authority dated 30.11.2018, Original composite hypothecation agreement dated 30.11.2018, Original letter of undertaking in respect of Book-Debts dated 30.11.2018, Original letter acknowledgment of debt dated 02.08.2021, Copy of Lawyer’s notice dated 19.02.2024, Original postal receipt dated 20.02.2024, Statement of account in Loan A/c. No. 58860600000232 along with certification.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Aneesh K.M.
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Santhosh Kumar K.
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- Dileep Chandran
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to realize Rs.9,26,641.24/- from the defendant and from his assets.
Evidence:
In the result, suit is decreed as follows: 1.Plaintiff is entitled to realize Rs.9,26,641.24/- (Rupees Nine lakhs Twenty Six Thousand Six Hundred and Forty One and Twenty Four paise only) from the defendant and from his assets.
Relief Type:
Interest
Outcome:
Granted
Description:
The plaintiff is entitled to realize interest at 12% per annum on the amount from the date of suit till date of decree.
Evidence:
2.Plaintiff is entitled to realize interest @ 12% per annum for Rs.9,26,641.24/- from the date of suit till date decree from the defendant and from his assets.
Relief Type:
Interest
Outcome:
Granted
Description:
The plaintiff is entitled to realize interest at 6% per annum from date of decree till date of realization.
Evidence:
3.Plaintiff is entitled to realize interest @6% per annum for Rs.9,26,641.24/- from date of decree till date of realization from the defendant and from his assets.
Relief Type:
Costs
Outcome:
Granted
Description:
The plaintiff is entitled to realize costs of the suit from the defendant.
Evidence:
4.Plaintiff is entitled to realize costs of the suit from defendant and from his assets.
Documents & Evidence
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
This document confirms the sanctioning of the loan amount of Rs.7,00,000/- to the defendant.
Reference:
Ext.A1
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This document serves as a formal promise by the defendant to repay the loan amount.
Reference:
Ext.A2
Document Type:
Letter of installment with acceleration clause
Submitted By:
Plaintiff
Relevance:
This document outlines the repayment terms of the loan, including the monthly installments.
Reference:
Ext.A3
Document Type:
Letter of Sole Proprietorship
Submitted By:
Plaintiff
Relevance:
This document confirms the defendant's ownership and capacity to borrow on behalf of M/s. Dezains Studio.
Reference:
Ext.A4
Document Type:
Declarations cum undertakings cum authority
Submitted By:
Plaintiff
Relevance:
This document details the defendant's commitments regarding the loan terms.
Reference:
Ext.A5
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
This document outlines the collateral provided by the defendant to secure the loan.
Reference:
Ext.A6
Document Type:
Letter of Undertaking in respect of Book-Debts
Submitted By:
Plaintiff
Relevance:
This document is related to the assignment of book debts as additional security.
Reference:
Ext.A7
Document Type:
Letter of acknowledgment of debt
Submitted By:
Plaintiff
Relevance:
This document shows the defendant acknowledging the debt owed to the plaintiff bank.
Reference:
Ext.A8
Document Type:
Copy of Lawyer’s notice
Submitted By:
Plaintiff
Relevance:
This document details the legal notice sent to the defendant demanding repayment.
Reference:
Ext.A9
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
This document serves as proof of sending the legal notice to the defendant.
Reference:
Ext.A10
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document provides a detailed account of the loan status and overdue payments.
Reference:
Ext.A11
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
Case between Bank of Baroda vs Sainu Rethesh regarding recovery of loan amount
Case Code Year
Case between Bank of Baroda vs Sainu Rethesh regarding recovery of loan amount