Case Summary
The case involves Bank of India seeking the recovery of a loan amount from Subhadra Studio and its proprietor for non-repayment of a business loan. The plaintiff claims that despite repeated requests, the defendants failed to repay the loan.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realise an amount of Rs. 6,09,024/- with interest at the rate of 10.2% per annum.
Case Type
Civil Suit
Final Judgment
No
The court found in favor of the plaintiff, allowing the claim for the loan amount with interest. The suit was decreed for the recovery of Rs. 6,09,024/- along with costs.
Why Plaintiff Won:
The plaintiff proved the case by providing sufficient evidence of the loan agreement and defendant's default.
The plaintiff proved the case by providing sufficient evidence of the loan agreement and defendant's default.
Losing Side's Weaknesses:
Not available
Not available
Supporting Evidence
According to PW1, on 21/06/2017, the defendant availed a loan of Rs. 4,50,000/- from the plaintiff bank and executed necessary documents by which the defendants had agreed to repay the amount. Evidence of PW1 coupled with Ext.A1 to A9 documents proves the plaint claim.
Judgment Evidence:
In the result, the suit is decreed with costs as follows: The plaintiff is entitled to realise an amount of Rs. 6,09,024/- (Rupees Six Lakhs Nine Thousand and Twenty four only) with interest at the rate of 10.2% per annum from the date of the suit till the date of decree and at the rate of 6% per annum from the date of decree till realisation.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Bank of India
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- Subhadra Studio
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- Sunilkumar.R
- Party Age
- 50
- Relation
- S/o
Plaintiffs Documents
Sanction Letter, Demand Promissory Note, Hypothecation cum Loan Agreement, Multi Purpose Agreement, Revival Letters, Suit Notice, Postal Receipts, Statement of Accounts
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Anu.V.U
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- A.Niaz
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- Aju.V.U
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff seeks to recover Rs. 6,09,024/- with interest from the defendants.
Evidence:
The plaintiff is entitled to realise an amount of Rs. 6,09,024/- (Rupees Six Lakhs Nine Thousand and Twenty four only) from the defendants and their assets with interest at the rate of 10.2% per annum from the date of the suit till the date of realisation with the cost of this suit.
Documents & Evidence
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Proves the loan amount availed by the defendants and the agreement with the plaintiff.
Reference:
Ext.A1
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Formalizes the debt obligation of the defendants.
Reference:
Ext.A2
Document Type:
Hypothecation cum loan agreement
Submitted By:
Plaintiff
Relevance:
Details the terms of the loan availed by the defendants.
Reference:
Ext.A3
Document Type:
Multi purpose Agreement
Submitted By:
Plaintiff
Relevance:
Further clarifies the loan terms and conditions.
Reference:
Ext.A4
Document Type:
Revival Letter
Submitted By:
Plaintiff
Relevance:
Acknowledges the debt by the defendants on specified dates.
Reference:
Ext.A5, A6
Document Type:
Suit Notice
Submitted By:
Plaintiff
Relevance:
Notifies the defendants about the outstanding dues.
Reference:
Ext.A7
Document Type:
Postal Receipts
Submitted By:
Plaintiff
Relevance:
Evidence of communication sent to the defendant.
Reference:
Ext.A8 series
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Details the outstanding amount owed by the defendants.
Reference:
Ext.A9
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kollam
State
Kerala
Court Establishment
Munsiff Court Kollam
Common Reasons
Recovery of money
Case Code
Case between Bank of India vs Subhadra Studio et al regarding Realisation of Money
Case Code Year
Case between Bank of India vs Subhadra Studio et al regarding Realisation of Money