Case Summary
IDBI Bank Limited filed a suit against Sarath Menon @ Sarad Menon and others for the recovery of an outstanding loan amount of Rs.8,54,955/- due to defaults in repayment. The defendants failed to appear in court, leading to a judgment in favor of the plaintiff.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Rs.8,54,955/- along with interest @10.15% per annum from the date of suit till the date of decree and 6% from the date of decree till payment or realization.
Case Type
Civil Suit
Final Judgment
No
The court ruled in favor of IDBI Bank Limited, ordering the defendants to pay the outstanding loan amount of Rs.8,54,955/- along with applicable interest rates. The defendants were found liable to satisfy the decree debt.
Why Plaintiff Won:
The plaintiff established a case of default on the loan agreement, having presented valid documentation and testimony that remained unchallenged.
The plaintiff established a case of default on the loan agreement, having presented valid documentation and testimony that remained unchallenged.
Losing Side's Weaknesses:
Not available
Not available
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.8,54,955/- with interest from defendants.
Judgment Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.8,54,955/- along with interest @10.15% per annum from the date of suit till the date of decree and 6% from the date of decree till payment or realization, as the case may be, to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- IDBI Bank Limited
- Party Role
- Defendant
- Party Name
- Sarath Menon @ Sarad Menon
- Relation
- S/o
- Party Role
- Defendant
- Party Name
- T N Kanakakumari
- Relation
- W/o
- Party Role
- Defendant
- Party Name
- Santhi Menon
- Party Role
- Defendant
- Party Name
- Shyam Kumar
Plaintiffs Documents
Home Loan Agreement dated 30.01.2010, Recall notice dated 21.09.2023, Demand notice under section 13(2) of the SARFAESI Act dated 30.10.2023.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- K P Sujeshkumar
- Appearance Type
- Main Counsel
- Party Role
- Plaintiff
- Advocate Name
- Keerthi K Narayan
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- Shalu S
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- Aswin B
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- Jeevan Joy
- Appearance Type
- Assisting Counsel
- Party Role
- Plaintiff
- Advocate Name
- Rahul G
- Appearance Type
- Assisting Counsel
Reliefs
Relief Type:
Damages
Outcome:
Granted
Description:
Defendants shall pay Rs.8,54,955/- along with interest to the plaintiff.
Evidence:
In the result, suit is decreed as follows: Defendants shall pay Rs.8,54,955/- (Rupees Eight lakhs fifty four thousand nine hundred and fifty five only) along with interest @10.15% per annum from the date of suit till the date of decree and 6% from the date of decree till payment or realization, as the case may be, to the plaintiff.
Relief Type:
Other
Outcome:
Granted
Description:
Defendants are personally 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:
Home Loan Agreement, Power of Attorney, Deed of Guarantee
Submitted By:
Plaintiff
Relevance:
Document outlining the loan agreement terms accepted by the defendants.
Reference:
Ext.A1
Document Type:
Sale deed
Submitted By:
Plaintiff
Relevance:
Document providing evidence of collateral for the loan.
Reference:
Ext.A2
Document Type:
Letter evidencing deposit of title deed
Submitted By:
Plaintiff
Relevance:
Document confirming the deposit of title deeds as collateral security.
Reference:
Ext.A3
Document Type:
Recall Notice
Submitted By:
Plaintiff
Relevance:
Notice issued for demanding the repayment of outstanding loan.
Reference:
Ext.A4
Document Type:
Demand Notice under SARFAESI Act
Submitted By:
Plaintiff
Relevance:
Notice issued under section 13(2) for recovery of dues.
Reference:
Ext.A5
Document Type:
Statement of Accounts
Submitted By:
Plaintiff
Relevance:
Document providing the financial status of the loan account.
Reference:
Ext.A6
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Ernakulam
State
Kerala
Court Establishment
Munsiff Court, Ernakulam
Common Reasons
Recovery of money
Case Code
Case between IDBI Bank Limited vs Sarath Menon @ Sarad Menon et al regarding realization of money
Case Code Year
Case between IDBI Bank Limited vs Sarath Menon @ Sarad Menon et al regarding realization of money