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
The court decreed that the defendants must pay Rs.1,73,166/- along with interest to the plaintiff bank. The defendants are held jointly liable for the repayment.
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.
Losing Side's Weaknesses:
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.
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.1,73,166/- with interest from defendants.
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
Parties
- Party Role
- Plaintiff
- Party Name
- IDBI Bank Limited
- Party Role
- Defendant
- Party Name
- Ashraya Kerala JLG Unit No. 39 FEBA
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Sheeba Sabu
- Party Age
- 44
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Jincy
- Party Age
- 38
- Relation
- D/o
- Party Role
- Defendant
- Party Name
- Selina
- Party Age
- 42
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Reena Jain
- Party Age
- 38
- Relation
- W/o
Plaintiffs Documents
22.12.2017 Loan agreement, 22.12.2017 Sanction letter, 22.12.2017 Inter Se agreement, Statement of account along with certificate under Bankers Book Evidence Act for the period from 30.12.2017 to 04.08.2022, 11.08.2022 Office copy of the loan recall notice
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Paulochan Antony P
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Padmapriya P
- Appearance Type
- Main Counsel
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
Case Classification
Case Type
Civil Suit
Category
Other Civil Cases
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Non-payment of rent
Case Code
Case between IDBI Bank Limited vs Ashraya Kerala JLG Unit No. 39 FEBA et al regarding realization of money
Case Code Year
Case between IDBI Bank Limited vs Ashraya Kerala JLG Unit No. 39 FEBA et al regarding realization of money