Case Summary
ICICI Bank Ltd. filed a suit for the recovery of outstanding loan amount from the defendants. The court found that the defendants had defaulted on loan repayments.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.8,61,031/ along with interest at 9.25% per annum.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff established a case with sufficient evidence demonstrating the defendants' loan default.
The plaintiff established a case with sufficient evidence demonstrating the defendants' loan default.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.8,61,031/ along with interest @9.25% per annum from 27.09.2022 till the date of decree and @ 6% from the date of decree till the date of payment or realization, as the case may be, to the plaintiff.
Parties Involved
Plaintiffs
ICICI Bank Ltd. (Age not specified years)
2nd floor, Pushpamangalam Estates, Service Road, Edapally, Cochin- 682 024.
Defendants
Lija (48 years)
Kooran Cheriyavappalassery, Nedumbassery Village, Angamalay South, Ernakulam, Pin – 683 573
Thambi Paul (60 years)
Kooran Cheriyavappalassery, Nedumbassery Village, Angamaly South, Ernakulam – 683 573
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The plaintiff is entitled to recover the amount due along with interest from the defendants.
Evidence:
I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.8,61,031/ with interest from defendants.
Relief Type:
Other
Outcome:
Granted
Description:
Defendants shall be personally and their assets will be liable to satisfy the decree debt.
Evidence:
Defendants shall be personally and their assets shall also be liable to satisfy the decree debt.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is entitled to recover the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Power of Attorney
Submitted By:
Plaintiff
Relevance:
This document establishes the authority of Mr. Jijin.A.M. to act on behalf of the plaintiff.
Reference:
Ext.A1
Document Type:
Preliminary Credit Facility Application
Submitted By:
Plaintiff
Relevance:
This document shows that the first defendant applied for a primary credit facility from the plaintiff bank.
Reference:
Ext.A2
Document Type:
Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document indicates that the second defendant is the co-applicant for the loan.
Reference:
Ext.A3
Document Type:
Loan recall notice
Submitted By:
Plaintiff
Relevance:
This document is the notice issued by the plaintiff bank to recall the loan amount.
Reference:
Ext.A4
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
This document pertains to the loan account and shows the outstanding amount due from the defendants.
Reference:
Ext.A5