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
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.
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
Plaintiffs
IDBI Bank Limited (Age not specified years)
IDBI Tower, WTC, Complex, Cuffe Parade, Mumbai – 400 005
Defendants
Ashraya Kerala JLG Unit No.49 Bhadhra (Age not specified years)
C/o Ashraya Kerala Charitable Society, Palluruthy, Ernakulam – 682 006
Ajitha S (39 years)
30/181 B, Ottathycal, Thekkumbhagam, Tripunithura – 682 301
Haritha (41 years)
370 Ooralil 21, Thripunithura P O, Ernakulam – 682 301
Suma (44 years)
Onthikattil, Puthiyakavu, Thekkumbhagam Village, Thripunithura P O, Ernakulam – 682 301
Kanaka Velayudhan (53 years)
Veliyil House, Mekkara Nadama, Ernakulam – 682 301
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