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
The court decreed the suit in favor of the plaintiff, ordering the defendants to pay the outstanding loan amount along with interest.
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.
Losing Side's Weaknesses:
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.
Supporting Evidence
On perusal of the plaint, proof affidavit and documents produced, 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.
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
Parties
- Party Role
- Plaintiff
- Party Name
- ICICI Bank Ltd.
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- Lija
- Party Age
- 48
- Relation
- D/o
- Party Role
- Defendant
- Party Name
- Thambi Paul
- Party Age
- 60
- Relation
- S/o
Plaintiffs Documents
Copy of Power of Attorney, Original Preliminary Credit facility application form executed by the defendant, Original unattested deed of hypothecation executed by the defendant, True copy of loan recall notice, True copy of the account statement pertaining to the loan account along with IT certificate.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- B.S.Sureshkumar
- Appearance Type
- Main Counsel
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
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
O.S.NO.
Case Code Year
2022