Case Summary
The plaintiff, Indian Bank, seeks recovery of a loan amount from the defendant, Mariyamma Reji, who defaulted on repayment for a business loan. The court proceedings addressed the loan agreement and the non-compliance by the defendant.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
The defendant shall pay ₹11,41,392.44 to the plaintiff along with future interest.
Case Type
Civil Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, ordering the defendant to pay the outstanding loan amount with interest. Future interest on the principal sum was also awarded.
Why Plaintiff Won:
The plaintiff successfully proved the loan transaction and the defendant's default in repayment.
The plaintiff successfully proved the loan transaction and the defendant's default in repayment.
Losing Side's Weaknesses:
The plaintiff successfully proved the loan transaction and the defendant's default in repayment.
The plaintiff successfully proved the loan transaction and the defendant's default in repayment.
Supporting Evidence
On a careful consideration of the pleadings and Exts.A1 to A12, it stands proved that the defendant had availed a loan of 6,00,000/- on 31.07.2017, executed the security documents, and committed default in repayment.
Judgment Evidence:
In the result, the suit is decreed ex parte as follows:- (i) The defendant shall pay to the plaintiff 5,43,600.44 as principal and 5,97,792/- towards interest, totalling 11,41,392.44.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Indian Bank
- Party Role
- Defendant
- Party Name
- Mariyamma Reji
- Party Age
- 42
- Relation
- W/o
Plaintiffs Documents
Pradhan Manthri Mudra Yojana Loan Application form, Loan Sanction letter, Demand promissory note, Medium Term loan agreement, Agreement of Hypothecation of movables, Letter of acknowledgment of debt.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Siby Mathew Thakadiyel
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
The defendant shall pay the plaintiff the total principal and interest amount.
Evidence:
The plaintiff is therefore entitled to the decree sought.
Relief Type:
Injunction
Outcome:
Granted
Description:
The plaintiff shall have a charge over the hypothecated movables.
Evidence:
The plaintiff shall have a charge over the hypothecated movables described in Ext.P6 for realisation of the decree debt, interest and costs.
Relief Type:
Other
Outcome:
Granted
Description:
The defendant shall pay the costs of the suit.
Evidence:
The defendant shall pay the costs of the suit.
Relief Type:
Other
Outcome:
Granted
Description:
Refund of the amount received from CGTMSE upon full satisfaction of the decree.
Evidence:
On full satisfaction of the decree, the plaintiff shall refund 3,04,176/- to CGTMSE as per terms.
Documents & Evidence
Document Type:
Loan Application Form
Submitted By:
Plaintiff
Relevance:
Document proving the loan application made by the defendant.
Reference:
Ext.A1
Document Type:
Loan Sanction Letter
Submitted By:
Plaintiff
Relevance:
Letter confirming the loan was sanctioned to the defendant.
Reference:
Ext.A2
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Legal document acknowledging the debt owed by the defendant.
Reference:
Ext.A3
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
Another copy of the promissory note documenting the loan.
Reference:
Ext.A4
Document Type:
Medium Term Loan Agreement
Submitted By:
Plaintiff
Relevance:
Agreement outlining the terms of the medium-term loan.
Reference:
Ext.A5
Document Type:
Agreement of hypothecation of movables
Submitted By:
Plaintiff
Relevance:
Document securing the loan against the movables.
Reference:
Ext.A6
Document Type:
Letter of acknowledgment of debt
Submitted By:
Plaintiff
Relevance:
Written acknowledgment of the debt by the defendant.
Reference:
Ext.A7
Document Type:
Copies of notice
Submitted By:
Plaintiff
Relevance:
Notices sent to the defendant regarding the loan default.
Reference:
Ext.A8 (series)
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Detailed account statement showing the plaintiff's claims.
Reference:
Ext.A9
Document Type:
Statement of Account
Submitted By:
Plaintiff
Relevance:
Previous account statement related to the loan.
Reference:
Ext.A10
Document Type:
Copy of application submitted to Secretary
Submitted By:
Plaintiff
Relevance:
Application for mediation filed with legal services authority.
Reference:
Ext.A11
Document Type:
Non-starter report from Secretary
Submitted By:
Plaintiff
Relevance:
Report indicating the mediation was unsuccessful.
Reference:
Ext.A12
Case Classification
Case Type
Civil Suit
Category
Money and Loan Recovery
District
Kottayam
State
Kerala
Court Establishment
Commercial Court, Pala
Common Reasons
Recovery of money
Case Code
Case between Indian Bank vs Mariyamma Reji regarding realisation of loan amount
Case Code Year
Case between Indian Bank vs Mariyamma Reji regarding realisation of loan amount