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
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.
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
Plaintiffs
The Federal Bank Ltd (Age not specified years)
Branch Vengoor
Defendants
Akhila Johny (24 years)
Kadalangal House, Aruvappara P O, Vengoor Village, Kunnathunadu Taluk
K M Johny (51 years)
Kadalangal House, Aruvappara P O, Vengoor Village, Kunnathunadu Taluk
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