Case Summary
The case involves The Federal Bank Ltd. seeking repayment from Gigymon P.G and Rugmini for a loan amount of Rs. 5,00,000 that was not repaid. The defendants failed to respond and provided no defense in court, resulting in a judgment in favor of the plaintiff.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Monetary award of Rs. 8,33,937 with interest
Case Type
Civil Suit
Final Judgment
No
The court judged in favor of The Federal Bank Ltd., ordering Gigymon P.G and Rugmini to pay an amount of Rs. 8,33,937 along with applicable interest and costs.
Why Plaintiff Won:
The plaintiff satisfactorily proved the terms of the loan agreement and the defaults by the defendants.
The plaintiff satisfactorily proved the terms of the loan agreement and the defaults by the defendants.
Losing Side's Weaknesses:
The plaintiff satisfactorily proved the terms of the loan agreement and the defaults by the defendants.
The plaintiff satisfactorily proved the terms of the loan agreement and the defaults by the defendants.
Supporting Evidence
The plaintiff by oral and documentary evidence established his right to realize the amount from the defendant.
Judgment Evidence:
In the result: the suit is decreed. The defendant do pay ₹ 8,33,937/- (Rupees Eight Lakhs Thirty three Thousand Nine Hundred and Thirty Seven only) together with the interest @ 12.88% per annum from the date of the suit until the date of decree to the plaintiff and thereafter the defendant do pay interest @ 4% per annum until the date of realization to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- The Federal Bank Ltd.
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Gigymon P.G
- Party Age
- 46
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- Rugmini
- Party Age
- 63
- Relation
- W/o
Plaintiffs Documents
On Demand Promissory Note, Security Delivery Letter, Agreement for cash credit/overdraft/demand loan, Balance confirmation letters
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- K.N.Anilkumar
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Babu T Cherian
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- B.Suja
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Mamatha S.
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover Rs.8,33,937/- along with interest.
Evidence:
The suit is decreed. The defendant do pay ₹ 8,33,937/- (Rupees Eight Lakhs Thirty three Thousand Nine Hundred and Thirty Seven only) together with the interest @ 12.88% per annum from the date of the suit until the date of decree to the plaintiff and thereafter the defendant do pay interest @ 4% per annum until the date of realization to the plaintiff.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff is entitled to costs of the suit.
Evidence:
The plaintiff is also entitled to get costs of the suit.
Documents & Evidence
Document Type:
On Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Executed by the defendant for the loan amount.
Reference:
Ext.A1
Document Type:
Security Delivery Letter
Submitted By:
Plaintiff
Relevance:
Executed by the defendant as part of the loan process.
Reference:
Ext.A2
Document Type:
Agreement for Cash Credit/Overdraft/Demand Loan
Submitted By:
Plaintiff
Relevance:
Agreement executed by the defendant agreeing to repay the loan.
Reference:
Ext.A3
Document Type:
Balance Confirmation Letter
Submitted By:
Plaintiff
Relevance:
Executed by the defendant confirming the outstanding loan balance.
Reference:
Ext.A4
Document Type:
Balance Confirmation Letter
Submitted By:
Plaintiff
Relevance:
Executed by the defendant confirming the outstanding loan balance.
Reference:
Ext.A5
Document Type:
Memorandum of Deposit of Title Deed
Submitted By:
Plaintiff
Relevance:
Executed by the second defendant as collateral for the loan.
Reference:
Ext.A6
Document Type:
Notice under Section 13(2) under SARFAESI
Submitted By:
Plaintiff
Relevance:
Issued to defendants regarding the loan default.
Reference:
Ext.A7
Document Type:
Verified Copy of Account
Submitted By:
Plaintiff
Relevance:
Maintained in the name of the defendant showing the overdue amount.
Reference:
Ext.A8
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Kolenchery
Common Reasons
Recovery of money
Case Code
Case between The Federal Bank Ltd. vs Gigymon P.G et al regarding realization of money
Case Code Year
Case between The Federal Bank Ltd. vs Gigymon P.G et al regarding realization of money