Case Summary
The Federal Bank Ltd is suing Abdul Rasheed N.K and Haseena T for the recovery of a loan of ₹11,44,297 due to non-repayment. The court found that the defendants failed to appear and owed the amount claimed.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants are directed to pay ₹11,44,297 to the plaintiff with interest.
Case Type
Commercial Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendants to pay the claimed amount along with interest.
Why Plaintiff Won:
The plaintiff successfully proved that the defendants had availed of the loan and defaulted on repayment.
The plaintiff successfully proved that the defendants had availed of the loan and defaulted on repayment.
Losing Side's Weaknesses:
The plaintiff successfully proved that the defendants had availed of the loan and defaulted on repayment.
The plaintiff successfully proved that the defendants had availed of the loan and defaulted on repayment.
Supporting Evidence
Having gone through the documents marked and proof affidavit filed by the plaintiff, I am satisfied that the plaintiff has successfully proved that the defendants had availed loan from the plaintiff bank as stated in the plaint and since they defaulted in repayment as claimed in the plaint.
Judgment Evidence:
In the result, the suit is decreed as follows: The defendants are directed to pay an amount of 11,44,297/- (Rupees eleven lakh forty four thousand two hundred and ninety Seven only) to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- The Federal Bank Ltd
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Abdul Rasheed N.K
- Party Age
- 50
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Haseena T
- Party Age
- 43
- Relation
- W/o
Plaintiffs Documents
Loan application submitted by the defendants, Sanction letter issued by the plaintiff bank, Demand promissory Note, Term Loan agreement executed by the defendants.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Smt. Smitha Dharmaraj
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- T Sunitha
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants directed to pay the amount due to the plaintiff.
Evidence:
In the result, the suit is decreed as follows: The defendants are directed to pay an amount of 11,44,297/-.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff entitled to interest on the amount from the date of the suit.
Evidence:
The plaintiff will be entitled for interest at the rate of 9% per annum from the date of the suit.
Relief Type:
Costs
Outcome:
Granted
Description:
Claim for costs of the suit granted.
Evidence:
The plaintiff will be entitled for costs of the suit.
Documents & Evidence
Document Type:
Loan Application
Submitted By:
Plaintiff
Relevance:
Document submitted by the defendants to apply for a loan.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Letter issued by the plaintiff bank sanctioning the loan.
Reference:
Ext.A2
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Document executed by the defendants agreeing to repay the loan.
Reference:
Ext.A3
Document Type:
Term loan agreement
Submitted By:
Plaintiff
Relevance:
Agreement executed by the defendants outlining the loan terms.
Reference:
Ext.A4
Document Type:
Security Delivery Letter
Submitted By:
Plaintiff
Relevance:
Letter executed by the defendants providing security for the loan.
Reference:
Ext.A5
Document Type:
Letter of debit balance confirmation
Submitted By:
Plaintiff
Relevance:
Confirmation of debit balance executed by the defendants.
Reference:
Ext.A6
Document Type:
Letter of debit balance confirmation
Submitted By:
Plaintiff
Relevance:
Another confirmation of debit balance executed by the defendants.
Reference:
Ext.A7
Document Type:
Computerized Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Statement of accounts related to the loan.
Reference:
Ext.A8
Document Type:
Lawyer Notice
Submitted By:
Plaintiff
Relevance:
Notice sent to the defendants regarding the loan default.
Reference:
Ext.A9
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
Proof of sending the notice.
Reference:
Ext.A9(a)
Document Type:
Postal receipt
Submitted By:
Plaintiff
Relevance:
Another proof of sending the notice.
Reference:
Ext.A9(b)
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
Acknowledgment card received from the first defendant.
Reference:
Ext.A10
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
Acknowledgment card received from the second defendant.
Reference:
Ext.A11
Document Type:
Non-starter report
Submitted By:
Plaintiff
Relevance:
Report indicating the defendants did not initiate repayment.
Reference:
Ext.A12
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Non-payment of rent
Case Code
Case between The Federal Bank Ltd et al vs Abdul Rasheed N.K et al regarding recovery of loan amount
Case Code Year
Case between The Federal Bank Ltd et al vs Abdul Rasheed N.K et al regarding recovery of loan amount