Case Summary
The Federal Bank Ltd has filed a suit against Akhila Johny and K M Johny for the recovery of an educational loan amount that was defaulted on. The defendants challenge the execution of the loan documents, claiming they were misled about the terms.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The plaintiff bank is entitled to realise from the defendants jointly and severally a sum of 2,63,577.84 with interest thereon at the rate of 14.20% per annum.
Case Type
Civil Suit
Final Judgment
No
The court ruled in favor of the plaintiff bank, stating that the defendants are jointly liable to repay the loan amount along with interest. It was determined that the documents executed by the defendants are valid and enforceable.
Why Plaintiff Won:
The plaintiff successfully proved that the defendants had executed loan documents agreeing to the terms of repayment.
The plaintiff successfully proved that the defendants had executed loan documents agreeing to the terms of repayment.
Losing Side's Weaknesses:
The plaintiff successfully proved that the defendants had executed loan documents agreeing to the terms of repayment.
The plaintiff successfully proved that the defendants had executed loan documents agreeing to the terms of repayment.
Supporting Evidence
The documentary evidence produced by the plaintiff, supported by the testimony of PW1, conclusively establishes that the educational loan was sanctioned and disbursed to the defendants.
Judgment Evidence:
In the result, the suit is decreed as follows: The plaintiff bank is entitled to realise from the defendants jointly and severally a sum of 2,63,577.84 with interest thereon at the rate of 14.20% per annum from the date of suit till date of decree.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- The Federal Bank Ltd
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Akhila Johny
- Party Age
- 24
- Relation
- D/o
- Party Role
- Defendant
- Party Name
- K M Johny
- Party Age
- 51
- Relation
- S/o
Plaintiffs Documents
Agreement for Federal Special Vidya Loan Scheme, Promissory Note, Security delivery letter, Outstanding Balance confirmation letter, Copy of statement of account.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- C P Mathew
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- C V Babu
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- V K Joy
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to recover the loan amount with interest.
Evidence:
The plaintiff is entitled to realise from the defendants jointly and severally a sum of 2,63,577.84 with interest thereon at the rate of 14.20% per annum with quarterly rests from the date of suit till date of decree.
Relief Type:
Costs
Outcome:
Granted
Description:
The plaintiff shall also be entitled to the costs of the suit.
Evidence:
The plaintiff shall also be entitled to the costs of the suit.
Documents & Evidence
Document Type:
Agreement for Federal Special Vidya Loan Scheme
Submitted By:
Plaintiff
Relevance:
Executed by defendants agreeing to the loan terms.
Reference:
Ext.A1
Document Type:
Promissory Note
Submitted By:
Plaintiff
Relevance:
Promised repayment of the loan amount with interest.
Reference:
Ext.A2
Document Type:
Security Delivery Letter
Submitted By:
Plaintiff
Relevance:
Provided security for the loan granted.
Reference:
Ext.A3
Document Type:
Outstanding Balance confirmation letter
Submitted By:
Plaintiff
Relevance:
Acknowledged outstanding balance by the defendants.
Reference:
Ext.A4
Document Type:
Copy of statement of account
Submitted By:
Plaintiff
Relevance:
Details of transactions and outstanding amount.
Reference:
Ext.A5
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Perumbavoor
Common Reasons
Non-payment of rent
Case Code
Case between The Federal Bank Ltd vs Akhila Johny et al regarding realisation of money
Case Code Year
Case between The Federal Bank Ltd vs Akhila Johny et al regarding realisation of money