Case Summary
The case involves Bank of Baroda Vyttila Branch seeking to recover money from Karavattakudy Prakash Prasith due to a loan default. The defendant failed to appear in court and was set exparte.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant shall pay Rs.94,343.13 with interest and Rs.2,42,715.73 with interest to the plaintiff.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendant to pay a total amount along with specified interest rates. The defendant's assets are also liable for the decree.
Why Plaintiff Won:
The plaintiff established a case for the due amount with adequate evidence and legal backing.
The plaintiff established a case for the due amount with adequate evidence and legal backing.
Losing Side's Weaknesses:
The plaintiff established a case for the due amount with adequate evidence and legal backing.
The plaintiff established a case for the due amount with adequate evidence and legal backing.
Supporting Evidence
On perusal of the plaint, proof affidavit and documents produced, I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.3,37,058.86/- with interest from defendant.
Judgment Evidence:
In the result, suit is decreed as follows: Defendant shall pay Rs.94,343.13-(Rupees Ninety four thousand three hundred forty three and thirteen paise only) along with interest @11% per annum and Rs.2,42,715.73/- (Rupees Two Lakhs forty two thousand seven hundred fifteen and seventy three paise only) from the date of suit till the date of decree and @6% from the date of decree till the date of payment or realization, as the case may be, to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Bank of Baroda Vyttila Branch
- Relation
- represented by its Manager
- Party Role
- Defendant
- Party Name
- Karavattakudy Prakash Prasith
- Party Age
- 42
- Relation
- S/o K K Prakash
Plaintiffs Documents
Sanction Letter dated 28.07.2021, Demand Promissory Note dated 28.07.2021, Letter of Installment with acceleration clause dated 28.07.2021, Letter of Sole proprietorship dated 28.07.2021, Letter of Continuing Security, Declaration cum undertaking cum authority, Composite hypothecation agreement, Stamp as on agreement plus power of attorney, Copy of lawyer notice dated 17.07.2024, Acknowledgment card for notice receipt, Statement of account bearing No.30810600003621, Statement of account bearing No.30810400000105.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Santhosh G Prabhu
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Deepa N U
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- Aswathy A
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant shall pay Rs.94,343.13 along with interest @11% per annum and Rs.2,42,715.73 from the date of suit till the date of decree.
Evidence:
In the result, suit is decreed as follows: 1)Defendant shall pay Rs.94,343.13...(continued detail of amount due)...
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant shall be personally liable to satisfy the decree debt.
Evidence:
2)Defendant shall be personally and his assets shall also be liable to satisfy the decree debt.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is also entitled to realize the costs of the suit.
Evidence:
3)Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Sanction letter dated 28.07.2021 issued by the plaintiff bank to the defendant.
Reference:
Ext.A1
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Demand promissory note dated 28.07.2021 executed by the defendant.
Reference:
Ext.A2
Document Type:
Letter of installment with acceleration clause
Submitted By:
Plaintiff
Relevance:
Letter of installment with acceleration clause dated 28.07.2021.
Reference:
Ext.A3
Document Type:
Letter of Sole Proprietorship
Submitted By:
Plaintiff
Relevance:
Letter of sole proprietorship dated 28.07.2021 executed by defendant in favour of plaintiff bank.
Reference:
Ext.A4
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Demand promissory note dated 28.07.2021.
Reference:
Ext.A5
Document Type:
Letter of Continuing Security
Submitted By:
Plaintiff
Relevance:
Letter of continuing security dated 28.07.2021.
Reference:
Ext.A6
Document Type:
Declaration Cum Undertaking Cum Authority
Submitted By:
Plaintiff
Relevance:
Declaration cum undertaking cum authority dated 28.07.2021.
Reference:
Ext.A7
Document Type:
Composite Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Composite hypothecation agreement dated 28.07.2021.
Reference:
Ext.A8
Document Type:
Stamp as on agreement plus power of attorney
Submitted By:
Plaintiff
Relevance:
Stamp as on agreement plus power of attorney dated 28.07.2021 executed by defendant in favour of plaintiff bank.
Reference:
Ext.A9
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Copy of lawyer notice dated 17.07.2024 issued by the bank to defendant.
Reference:
Ext.A10
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
A/D card evidencing receipt of lawyer notice by the defendant.
Reference:
Ext.A11
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Statement of account bearing No.30810600003621 for the period from 29.07.2021 to 27.06.2024.
Reference:
Ext.A12
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Statement of account bearing No.30810400000105 for the period from 29.07.2021 to 27.06.2024.
Reference:
Ext.A13
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Recovery of money
Case Code
Case between Bank of Baroda Vyttila Branch vs Karavattakudy Prakash Prasith regarding realization of money
Case Code Year
Case between Bank of Baroda Vyttila Branch vs Karavattakudy Prakash Prasith regarding realization of money