Case Summary
The Central Bank of India filed a suit against Neethu Shajan for the recovery of a loan amount of Rs. 7,96,256.87 with interest. The defendant defaulted on the loan repayment and was set ex parte for not appearing in court.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant shall pay Rs. 7,96,256.87 with interest @10.35% per annum from the date of suit till the date of decree and @ 6% from the date of decree till the date of payment.
Case Type
Civil Suit
Final Judgment
No
The suit is decreed in favor of the plaintiff, with the defendant ordered to pay Rs. 7,96,256.87 along with interest. The defendant is held liable for the decree debt and the plaintiff is entitled to recover the costs incurred in the suit.
Why Plaintiff Won:
Plaintiff established a clear case through documentary evidence.
Plaintiff established a clear case through documentary evidence.
Losing Side's Weaknesses:
Plaintiff established a clear case through documentary evidence.
Plaintiff established a clear case through documentary evidence.
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.7,96,256.87/- with interest from defendant.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendant shall pay Rs.7,96,256.87 with interest @10.35% per annum 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 plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Central Bank of India
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Neethu Shajan
Plaintiffs Documents
Loan application form, Sanction letter, Term loan agreement, Hypothecation agreement, Letter of authority regarding disbursement of loan, Letter of consent by borrowers, Supplementary agreement, Statement of accounts, Copy of legal notice.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Saigi Jacob Palatty
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Anu S Nair
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover Rs.7,96,256.87/- with interest from the defendant.
Evidence:
plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.7,96,256.87/- with interest from defendant.
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant shall be personally liable to satisfy the decree debt.
Evidence:
Defendant shall be personally and her assets shall also be liable to satisfy the decree debt.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Loan Application Form
Submitted By:
Plaintiff
Relevance:
Submitted loan application form by the defendant.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Sanction letter for the loan dated 17.12.2022.
Reference:
Ext.A2
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
Original term loan agreement executed by the defendant.
Reference:
Ext.A3
Document Type:
Hypothecation Agreement
Submitted By:
Plaintiff
Relevance:
Original hypothecation agreement dated 19.12.2022.
Reference:
Ext.A4
Document Type:
Letter of authority regarding disbursement of Loan
Submitted By:
Plaintiff
Relevance:
Original letter of authority regarding disbursement of loan submitted by the defendant.
Reference:
Ext.A5
Document Type:
Letter of consent by borrowers
Submitted By:
Plaintiff
Relevance:
Original letter of consent dated 19.12.2022.
Reference:
Ext.A6
Document Type:
Supplementary Agreement
Submitted By:
Plaintiff
Relevance:
Supplementary agreement executed by the defendant.
Reference:
Ext.A7
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Statement of accounts duly certified under Bankers Book Evidence Act.
Reference:
Ext.A8
Document Type:
Copy of legal notice
Submitted By:
Plaintiff
Relevance:
Copy of legal notice dated 22.01.2025 sent to the defendant.
Reference:
Ext.A9
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 Central Bank of India vs Neethu Shajan regarding realization of money
Case Code Year
Case between Central Bank of India vs Neethu Shajan regarding realization of money