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
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.
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
Plaintiffs
Bank of Baroda (Age not specified years)
Vazhakkala Branch, Vijaya Complex, Ground floor, Civil line road, Chembumukku Ernakulam district, PIN-682030
Defendants
Sainu Rethesh (42 years years)
Proprietor of M/s. Dezains Studio 504, NKM Arcade, Room No.49/81, Ponnurunni, Vytila P.O, Ernakulam-682019
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