Case Summary
The plaintiff, IDBI Bank Limited, is seeking to recover a loan amount from the defendants, who are members of a Self Help Group. The defendants defaulted on the loan repayments and did not appear in court.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.4,28,367.94/- along with interest at the rate of 11% and 2% penal interest per annum.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff established a case for recovery based on the loan agreement and the defendants' default.
The plaintiff established a case for recovery based on the loan agreement and the defendants' default.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.4,28,367.94/- along with interest @11% and 2% penal interest per annum from the date of suit till the date of decree.
Parties Involved
Plaintiffs
IDBI Bank Limited (Age not specified years)
Mampilly Plaza, East Fort Junction, Hill Palace Road, Tripunithura, Ernakulam, Kerala- 682301
Defendants
Kudumbasree Div 18 NHG 23 KRIPA (Age not specified years)
C/o CDS Kudumbasree, Chellanam Village
Smt. Sindhu (36 years years)
Padinjareveetil, South Chellanam, Chellanam, Ernakulam, Kerala- 682008
Smt. Chandrika K S (50 years years)
Pulikkal House, fisherman Colony, South Chellanam, Chellanam, Ernakulam, Kerala- 682008
Smt. Mary Margaret P J (29 years years)
Kizhakkeveetil House, Near Balummal Jewellery, Kannamay, Kumbalangy, Andikadavu, Ernakulam, Kerala- 682001
Smt. Thresia (49 years years)
Thekkekalathunkal House, Chellanam, Ernakulam, Kerala- 682002
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendants shall pay Rs.4,28,367.94/- along with interest.
Evidence:
Defendants are directed to pay interest at the rate of 11% along with 2% penal interest per annum from the date of suit till the date of decree.
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:
Articles of loan agreement for financing Self Help Group
Submitted By:
Plaintiff
Relevance:
Shows that defendants availed term loan of Rs.10,00,000/- for agricultural activities.
Reference:
Ext.A1
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
Sanction letter issued by plaintiff bank.
Reference:
Ext.A2
Document Type:
Inter-se Agreement
Submitted By:
Plaintiff
Relevance:
Executed by defendants to govern their joint liability as a Self Help Group.
Reference:
Ext.A3
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Shows that defendants have defaulted in repayment of loan.
Reference:
Ext.A4
Document Type:
Legal Notice
Submitted By:
Plaintiff
Relevance:
Recall notice issued by plaintiff to defendants requesting repayment of the outstanding loan amount.
Reference:
Ext.A5