ORIGINAL SUIT No. 90 OF 2017

Case between Indian Overseas Bank vs Gafee and M/s Wenstar Industries regarding loan recovery

Court

Court of the Munsiff of Tirur

Judge

Smt. Vincy.T.V.

Order Date

2017-10-21

Duration

0 years 3 months

Case Closed

Sat, 10/21/2017 - 12:00

Judgement document from eCourt website

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Case Summary

Indian Overseas Bank filed a suit against the defendant for the realization of a loan amount due to default in repayment. The defendant failed to repay the loan amount under the CGTMSE Scheme, leading to the bank seeking recovery through the court.

Judgment Outcome

Plaintiff Won

Interim Order

The court decreed the suit in favor of the plaintiff, directing the defendant to pay the outstanding amount along with interest. The defendant was also ordered to pay the costs of the suit.

Judgment Favored

Plaintiff

Relief Granted

Money Recovery with Interest

Case Type

Civil Suit - Money Recovery

Final Judgment

The court decreed the suit in favor of the plaintiff, directing the defendant to pay the outstanding amount along with interest. The defendant was also ordered to pay the costs of the suit.

Why Plaintiff Won:
Reason not clearly mentioned.

Losing Side's Weaknesses:
Reason not clearly mentioned.

Supporting Evidence

Nil

Judgment Evidence:

The suit is decreed as follows: The defendant is hereby directed to pay the sum of Rs. 6,69,799/- to the plaintiff with 11.45% per annum interest from the date of suit.

Parties Involved

Parties

Party Role: Plaintiff
Party Name: Indian Overseas Bank

Party Role: Defendant
Party Name: Gafee P.V.
Party Age: 46
Relation: S/o Abdul Khader

Party Role: Defendant
Party Name: M/s Wenstar Industries and Auto Garage
Relation: Proprietor

Plaintiffs Documents

Ext.A1 - Credit Sanction advice, Ext.A2 - Demand Promissory Note, Ext.A3 - Agreement of Term Loan and Hypothecation, Ext.A4 - Revival Letter, Ext.A5 - Account Statement.

Defendants Documents

Nil.

Advocates

Party Role: Plaintiff
Advocate Name: Sri.K.T.Ajayan
Appearance Type: Main Counsel

Party Role: Plaintiff
Advocate Name: Smt.Anjana.V.T
Appearance Type: Assisting Counsel

Party Role: Defendant
Advocate Name: Sri. Sreehari
Appearance Type: Main Counsel

Reliefs

Relief Type: Money Recovery with Interest

Outcome: Granted

Description:

Directed defendant to pay Rs. 6,69,799/- to the plaintiff with interest

Evidence:

The defendant is hereby directed to pay the sum of Rs. 6,69,799/- to the plaintiff with 11.45% per annum from the date of suit till today and thereafter with an interest @ 6% per annum till the date of realization.