Case Summary
IDBI Bank Limited filed a suit against Ashraya Kerala JLG Unit No. 10 Nila and its members for the recovery of a loan amounting to Rs. 5,05,615 with interest. The defendants defaulted on the repayment of the loan taken for agricultural activities.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs. 5,05,615 along with interest at the rate of 11%.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendants to pay the loan amount along with interest. The defendants failed to respond adequately to the proceedings.
Why Plaintiff Won:
The plaintiff established a case with unchallenged evidence and the defendants' default was evident.
The plaintiff established a case with unchallenged evidence and the defendants' default was evident.
Losing Side's Weaknesses:
The plaintiff established a case with unchallenged evidence and the defendants' default was evident.
The plaintiff established a case with unchallenged evidence and the defendants' default was evident.
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.5,05,615 with interest from defendants.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.5,05,615 along with interest @11% along with 2% penal interest per annum from 27.08.2022 till the date of decree.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- IDBI Bank Limited
- Party Role
- Defendant
- Party Name
- Ashraya Kerala JLG Unit No. 10 Nila
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Binu Banu
- Party Age
- 24
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Geetha.P.T.
- Party Age
- 47
- Relation
- D/o
- Party Role
- Defendant
- Party Name
- Sujatha
- Party Age
- 46
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Thankamma
- Party Age
- 55
- Relation
- W/o
Plaintiffs Documents
Loan agreement executed between the plaintiff and defendant dated 27.02.2017, Letter of intent dated 27.02.2017, Interse agreement dated 27.02.2017, Statement of account along with certificate under bankers book evidence act for the period from 22.02.2017 to 04.08.2022, Office copy of the Loan Recall notice dated 11.08.2022.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Paulochan Antony.P.
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Padma Priya.P.
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff sought recovery of Rs.5,05,615 along with interest from defendants.
Evidence:
Plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.5,05,615 with interest from defendants.
Relief Type:
Other
Outcome:
Granted
Description:
Plaintiff is also entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
Executed between the plaintiff and defendant.
Reference:
Ext.A1
Document Type:
Letter of intent
Submitted By:
Plaintiff
Relevance:
Bearing reference number IBL/341/2016-17/184.
Reference:
Ext.A2
Document Type:
Interse agreement
Submitted By:
Plaintiff
Relevance:
Affecting the loan facility.
Reference:
Ext.A3
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Along with certificate under bankers book evidence act for the period specified.
Reference:
Ext.A4
Document Type:
Loan recall notice
Submitted By:
Plaintiff
Relevance:
Issued to defendants for repayment of outstanding amount.
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 Loan
Case Code
O.S.NO.
Case Code Year
2022