Case Summary
IDBI Bank Limited has filed a suit against Ashraya Kerala JLG Unit No.49 and its members for the recovery of a loan amount of Rs.6,03,200/- that the defendants failed to repay. The case involves the enforcement of a loan agreement and associated guarantees.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.6,03,200/- along with interest @11% per annum until payment is made.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff. Defendants are to pay Rs.6,03,200/- along with interest to the plaintiff as they failed to repay the loan.
Why Plaintiff Won:
The court found that the plaintiff established a case based on unchallenged evidence of loan agreement and default.
The court found that the plaintiff established a case based on unchallenged evidence of loan agreement and default.
Losing Side's Weaknesses:
The court found that the plaintiff established a case based on unchallenged evidence of loan agreement and default.
The court found that the plaintiff established a case based on unchallenged evidence of loan agreement and 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.6,03,200/- with interest from defendants.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.6,03,200/- 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
- Relation
- Represented by
- Party Role
- Defendant
- Party Name
- Ashraya Kerala JLG Unit No.49 Bhadhra
- Relation
- represented by
- Party Role
- Defendant
- Party Name
- Ajitha S
- Party Age
- 39
- Relation
- W/o Prasad
- Party Role
- Defendant
- Party Name
- Haritha
- Party Age
- 41
- Relation
- W/o Babu
- Party Role
- Defendant
- Party Name
- Suma
- Party Age
- 44
- Relation
- W/o Suresh
- Party Role
- Defendant
- Party Name
- Kanaka Velayudhan
- Party Age
- 53
- Relation
- W/o Velayudhan V C
Plaintiffs Documents
Sanction Letter dated 29.11.2017, Interse agreement dated 29.11.2017, Loan agreement dated 29.11.2017, True copy of recall notice dated 11.08.2022, True copy of account statement from 30.11.2017 to 04.08.2022
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.6,03,200/- along with interest.
Evidence:
Defendants shall pay Rs.6,03,200/- (Rupees Six lakhs three thousand two hundred only) 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.
Relief Type:
Other
Outcome:
Granted
Description:
Defendants shall be personally liable for 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:
Sanction letter
Submitted By:
Plaintiff
Relevance:
It shows that on 29.11.2017, plaintiff bank sanctioned the loan of Rs.5,00,000/- to defendants.
Reference:
Ext.A1
Document Type:
Interse agreement
Submitted By:
Plaintiff
Relevance:
It confirms that defendants executed irrevocable and unconditional personal guarantee through an inter-se agreement dated 29.11.2017.
Reference:
Ext.A2
Document Type:
Loan Agreement
Submitted By:
Plaintiff
Relevance:
It shows that defendants availed term loan of Rs.5,00,000/- for agricultural activities on 29.11.2017.
Reference:
Ext.A3
Document Type:
Recall Notice
Submitted By:
Plaintiff
Relevance:
It is a true copy of the loan recall notice dated 11.08.2022.
Reference:
Ext.A4
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
It is a statement of account along with certificate under Bankers Book Evidence Act for the period from 01.11.2020 to 04.08.2022, showing that defendants have defaulted in repayment of loan.
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
Case between IDBI Bank Limited vs Ashraya Kerala JLG Unit No.49 et al regarding realization of money
Case Code Year
Case between IDBI Bank Limited vs Ashraya Kerala JLG Unit No.49 et al regarding realization of money