Case Summary
The plaintiff, The Federal Bank Limited, filed a suit against the defendants, Anila Mary Joseph and Cicily Joseph, for recovery of a loan amounting to Rs. 4,99,682.44. The defendants failed to adhere to the repayment schedule after availing a loan granted for educational purposes.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff is entitled to realize the sum of Rs. 4,99,682.44 with 6% interest from the date of the suit till realization.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff provided sufficient documentation and evidence to support their claim.
The plaintiff provided sufficient documentation and evidence to support their claim.
Judgment Evidence:
In the result, the suit is decreed as follows 1) The plaintiff is found entitled for the sum of Rs. 4,99,682.44 with 6% interest from the date of the suit till realization.
Parties Involved
Plaintiffs
The Federal Bank Limited (Age not specified years)
Registered Office Aluva Branch, Pachalam, Ernakulam – 682 012
Defendants
Anila Mary Joseph (25 years)
Kolpurathu house, Kunnumel road, Vaduthala P.O, Ernakulam – 682 023, Kerala
Cicily Joseph (51 years)
Kolpurathu house, Kunnumel road, Vaduthala P.O, Ernakulam – 682 023, Kerala
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff seeks to recover a sum of Rs. 4,99,682.44 from the defendants.
Evidence:
The plaintiff is entitled to realize an amount of Rs. 4,99,682.44 from the defendant and their assets.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff claims interest on the sum awarded at a rate of 6% from the date of the suit until realization.
Evidence:
Therefore, the rate of interest from the date of the suit till realization is fixed at 6% per annum on the principal amount lent.
Relief Type:
Cost
Outcome:
Granted
Description:
Plaintiff is entitled to recover the costs of the suit from the defendants.
Evidence:
Therefore, I’m of the view that the plaintiff is entitled to realize the cost of the suit from the defendants.
Documents & Evidence
Document Type:
Agreement for Federal Special Vidya Loan Scheme
Submitted By:
Plaintiff
Relevance:
This document establishes the terms of the loan granted to the defendants for the 1st defendant's education.
Reference:
Ext.A1
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
This document is a written promise by the defendants to pay back the loan amount.
Reference:
Ext.A2
Document Type:
Security Delivery Letter
Submitted By:
Plaintiff
Relevance:
This document outlines the security measures related to the loan agreement.
Reference:
Ext.A3
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
This is a later promissory note acknowledging the debt as recognized by the defendants.
Reference:
Ext.A4
Document Type:
Security Delivery Letter
Submitted By:
Plaintiff
Relevance:
This document is a security delivery letter signed by the defendants acknowledging the loan.
Reference:
Ext.A5
Document Type:
Balance Confirmation Letter
Submitted By:
Plaintiff
Relevance:
This letter confirms the outstanding balance of the loan as acknowledged by the defendants.
Reference:
Ext.A6