Case Summary
IDBI Bank Limited filed a suit for the realization of a loan amount against Ashraya Kerala JLG Unit No. 39 FEBA and its members due to default in repayment of a term loan. The court found the defendants jointly liable for the outstanding amount.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Rs.1,73,166/- along with interest @11% 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.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff established a case of default and proved the total amount due.
The plaintiff established a case of default and proved the total amount due.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.1,73,166/- along with interest @11% 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 to plaintiff.
Parties Involved
Plaintiffs
IDBI Bank Limited (Age not specified years)
IDBI Tower, WTC, Complex, Cuffe Parade, Mumbai- 400005
Defendants
Ashraya Kerala JLG Unit No. 39 FEBA (Age not specified years)
C/o Ashraya Kerala Charitable Society, Palluruthy, Ernakulam- 682006
Sheeba Sabu (44 years years)
Vaickathumalayil, Piravam, Ernakulam- 686664
Jincy (38 years years)
Pannikkottil, Edapallichira, Piravam, Ernakulam- 686664
Selina (42 years years)
Moottakuzhiyil, Palchuvad, Piravam, Ernakulam- 686664
Reena Jain (38 years years)
Parekkattil, Thottoor, Kaipattur, Kanayannoor, Ernakulam- 682313
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants shall pay Rs.1,73,166/- along with interest.
Evidence:
Defendants are directed to pay interest at the rate of 11% 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, to the plaintiff.
Relief Type:
Other
Outcome:
Granted
Description:
Defendants shall be personally and their assets shall also 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 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:
Shows that defendants availed term loan of Rs.5,00,000/- for agricultural activities on 22.12.2017.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Confirms the approval of the loan by the plaintiff bank.
Reference:
Ext.A2
Document Type:
Inter-se Agreement
Submitted By:
Plaintiff
Relevance:
Documents the agreement between the defendants regarding loan execution.
Reference:
Ext.A3
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Shows the period from 30.12.2017 to 04.08.2022 during which the defendants defaulted on loan repayment.
Reference:
Ext.A4
Document Type:
Loan recall notice
Submitted By:
Plaintiff
Relevance:
Serves as a reminder for the defendants to repay the outstanding loan amount.
Reference:
Ext.A5