Case Summary
ICICI Bank Ltd. filed a suit against Shibu M for the realization of an outstanding loan amount. The defendant defaulted in repayment despite several requests by the plaintiff, leading to this legal action.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendant is directed to pay Rs.8,99,256 along with interest.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendant to pay an amount of Rs.8,99,256 along with interest. The defendant is also liable for the costs of the suit.
Why Plaintiff Won:
The plaintiff established a case that the defendant defaulted on the loan repayment.
The plaintiff established a case that the defendant defaulted on the loan repayment.
Losing Side's Weaknesses:
The plaintiff established a case that the defendant defaulted on the loan repayment.
The plaintiff established a case that the defendant defaulted on the loan repayment.
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.8,99,256/- with interest from defendant.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendant shall pay Rs.8,99,256/- (Rupees Eight lakhs ninety nine thousand two hundred and fifty six only) along with interest @12% per annum from the date of suit 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
- Shibu M
- Party Age
- 35
- Relation
- S/o
Plaintiffs Documents
Certified copy of the power of attorney, Original of the preliminary credit facility application form, Original of the credit facility application form, Original of the key fact statement and most important information, Loan recall notice, Account statement along with certificate
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- B S Sureshkumar
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Ashley John
- Appearance Type
- Assisting Counsel
- Party Role
- Defendant
- Advocate Name
- Jithu S Nair
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Joseph Mary Das
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover the amount due from the defendant.
Evidence:
I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.8,99,256/-.
Relief Type:
Interest
Outcome:
Partly Granted
Description:
Interest on the amount due was awarded at a reduced rate.
Evidence:
I am not inclined to grant interest as claimed. Defendant is directed to pay interest at the rate of 12% per annum from the date of suit till the date of decree.
Documents & Evidence
Document Type:
Certified Copy of Power of Attorney
Submitted By:
Plaintiff
Relevance:
This document shows the authority of the power of attorney holder representing the plaintiff.
Reference:
Ext.A1
Document Type:
Preliminary Credit Facility Application form
Submitted By:
Plaintiff
Relevance:
This document is the application submitted by the defendant for the credit facility.
Reference:
Ext.A2
Document Type:
Credit Facility Application Form
Submitted By:
Plaintiff
Relevance:
This is an additional document relating to the credit facility applied by the defendant.
Reference:
Ext.A3
Document Type:
Key fact statement and most important information
Submitted By:
Plaintiff
Relevance:
This document provides crucial financial details regarding the credit facility.
Reference:
Ext.A4
Document Type:
Loan recall notice
Submitted By:
Plaintiff
Relevance:
This notice was issued to the defendant demanding repayment of the loan.
Reference:
Ext.A5
Document Type:
Account statement along with IT Certificate
Submitted By:
Plaintiff
Relevance:
This document shows the outstanding amount due from the defendant.
Reference:
Ext.A6
Case Classification
Case Type
Civil Suit
Category
Other Civil Cases
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Recovery of money
Case Code
Case between ICICI Bank Ltd. vs Shibu M regarding realization of money
Case Code Year
Case between ICICI Bank Ltd. vs Shibu M regarding realization of money