Case Summary
The case involves IDBI Bank Limited suing the Kudumbasree Self Help Group and its members for non-repayment of a term loan of Rs.10,00,000. The defendants defaulted on their repayment obligations, leading the bank to seek recovery of the outstanding amount.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendants shall pay Rs.1,48,668.91/- along with interest @11% per annum from the date of suit till the date of decree.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff established a case for recovery of the loan amount due to defaults by the defendants.
The plaintiff established a case for recovery of the loan amount due to defaults by the defendants.
Judgment Evidence:
In the result, suit is decreed as follows: 1) Defendants shall pay Rs.1,48,668.91/- along with interest @11% per annum from the date of suit till the date of decree.
Parties Involved
Plaintiffs
IDBI Bank Limited (null years)
IDBI Bank Ltd., Mampilly Plaza, East Fort Junction, Hill Palace Road, Tripunithura, Ernakulam- 682301
Defendants
Kudumbasree DIV 8 NHG 9 Kudumbini (Age not specified years)
C/o CDS Kudumbashree, Civil Station, Collectorate, Ernakulam- 682030
Omana Paulose (63 years)
12/494 Thaiparambil, Sebastian Thaliyath Road, Pandikudi, Mattancherry, Ernakulam- 682002
Jessy John (58 years)
Kodiveettil, Sebastian Thaliyath Road, Pandikudi, Mattancherry, Ernakulam- 682002
Seena Gabriel (52 years)
Cochin College Road, Pandikudi, Mattancherry, Ernakulam- 682002
Mini Linson (47 years)
12/474 A, Elenjikkal House, Sebastian Thaliyath Road, Pandikudi, Mattancherry, Ernakulam- 682002
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover Rs.1,48,668.91 along with interest from defendants.
Evidence:
I am of the view that plaintiff has established a case and plaintiff is entitled to realize an amount of Rs.1,48,668.91/- with interest from defendants.
Relief Type:
Recovery
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:
Recovery
Outcome:
Granted
Description:
Plaintiff is also entitled to realize the costs of the suit.
Evidence:
Plaintiff is also entitled to realize the costs of the suit.
Documents & Evidence
Document Type:
Letter of intent
Submitted By:
Plaintiff
Relevance:
This document establishes the initial agreement for the loan availed by the defendants.
Reference:
Ext.A1
Document Type:
Inter-se Agreement
Submitted By:
Plaintiff
Relevance:
This agreement outlines the responsibilities of the members of the Self Help Group regarding the loan.
Reference:
Ext.A2
Document Type:
Articles of Loan Agreement
Submitted By:
Plaintiff
Relevance:
This document details the terms and conditions of the loan agreement for the Self Help Group.
Reference:
Ext.A3
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This note serves as a formal acknowledgment of the debt and the promise to pay by the defendants.
Reference:
Ext.A4
Document Type:
Recall Notice
Submitted By:
Plaintiff
Relevance:
This notice was issued to the defendants requesting the repayment of the outstanding loan amount.
Reference:
Ext.A5
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
This document provides a summary of the loan account and confirms the defendants' default on repayments.
Reference:
Ext.A6