Case Summary
Federal Bank filed a suit against Varkey. T.C for the recovery of a loan. The plaintiff claims that the defendant defaulted on loan repayments, amounting to over Rs. 16 lakhs.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant to pay Rs. 16,44,646/- with interest and costs.
Case Type
Commercial Suit
Final Judgment
No
The court ruled in favor of the plaintiff, ordering the defendant to pay Rs. 16,44,646/- plus interest and costs. The suit is decreed.
Why Plaintiff Won:
Losing Side's Weaknesses:
Supporting Evidence
The case of the plaintiff is proved by the unchallenged proof affidavit as well as document which were marked as Exts. A1 to A12.
Judgment Evidence:
Hence the suit is decreed as follows: (a) It is ordered that defendant do pay to the plaintiff a sum of Rs.16,44,646/- ...
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Federal Bank, Koorachundu Branch
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Varkey. T.C
- Party Age
- 49
- Relation
- S/o
Plaintiffs Documents
Agreement for Agricultural Loans, Pronote with security Delivery Letter, Acknowledgment of debt, Account statement, Letter evidence of deposit of title deed.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. P.P. Sasidharan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri. Vishnu Narayanan
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Sri. K. Ramachandran
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff seeks to recover the total amount due from the defendant.
Evidence:
It is ordered that defendant do pay to the plaintiff a sum of Rs.16,44,646/- (RUPEES SIXTEEN LAKH FORTY FOUR THOUSAND SIX HUNDRED AND FOURTY SIX ONLY) with interest thereon at the rate of 9% per annum from the date of institution of the suit till this day and with interest there on at the rate of 6% per annum from this day till realization.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff is entitled to receive costs of the suit.
Evidence:
The defendant shall pay costs of the suit.
Documents & Evidence
Document Type:
Agreement for Agricultural Loans
Submitted By:
Plaintiff
Relevance:
Document related to the agricultural loan sanctioned to the defendant.
Reference:
Ext.A1
Document Type:
Pronote with security Delivery Letter
Submitted By:
Plaintiff
Relevance:
Document evidencing the defendant's agreement to the loan terms.
Reference:
Ext.A2
Document Type:
Agreement for Agricultural Loans
Submitted By:
Plaintiff
Relevance:
Second agreement for another agricultural loan taken by the defendant.
Reference:
Ext.A3
Document Type:
Pronote with security Delivery Letter
Submitted By:
Plaintiff
Relevance:
Related to the second loan agreement of the defendant.
Reference:
Ext.A4
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Defendant's acknowledgment of debt for the first loan.
Reference:
Ext.A5
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Defendant's acknowledgment of debt for the first loan.
Reference:
Ext.A6
Document Type:
Acknowledgment of Debt
Submitted By:
Plaintiff
Relevance:
Defendant's acknowledgment of debt for the first loan.
Reference:
Ext.A7
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Shows the financial transactions related to the loan account.
Reference:
Ext.A8
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
Shows the financial transactions related to the loan account.
Reference:
Ext.A9
Document Type:
Letter evidence of deposit of title deed
Submitted By:
Plaintiff
Relevance:
Evidence regarding the collateral provided for the loan.
Reference:
Ext.A10
Document Type:
Link letter
Submitted By:
Plaintiff
Relevance:
Document related to the mortgage linking the additional loan.
Reference:
Ext.A11
Document Type:
Assignment Deed
Submitted By:
Plaintiff
Relevance:
Document evidencing the assignment of the property.
Reference:
Ext.A12
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court, Koyilandy
Common Reasons
Non-payment of rent
Case Code
C.S.
Case Code Year
2023