Case Summary
The plaintiff, Indian Overseas Bank, filed a suit against the defendant, Mohammed Mavadigothi, for recovery of dues related to a vehicle loan. The defendant defaulted on the loan repayments despite multiple reminders from the bank.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Plaintiff is entitled to realize an amount of Rs.8,35,257.20 from the defendant and from his assets.
Case Type
Civil Suit
Final Judgment
No
Why Plaintiff Won:
The plaintiff's case was established through unrebutted evidence and documentation showing the default on loan repayments.
The plaintiff's case was established through unrebutted evidence and documentation showing the default on loan repayments.
Judgment Evidence:
In the result, suit is decreed as follows; Plaintiff is entitled to realize an amount of Rs.8,35,257.20 from the defendant and from his assets.
Parties Involved
Plaintiffs
Indian Overseas Bank (Age not specified years)
Chennai, India
Defendants
Mohammed Mavadigothi (Age not specified years)
64/14857A, Presidency Court, Chammany Lane, Kathrikadavu, Kaloor, Ernakulam, PIN: 682017
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to realize an amount of Rs.8,35,257.20 from the defendant.
Evidence:
In the result, suit is decreed as follows; Plaintiff is entitled to realize an amount of Rs.8,35,257.20/- from the defendant and from his assets.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff is entitled to realize interest at 12% per annum on the amount from the date of suit till date of decree.
Evidence:
Plaintiff is entitled to realize interest @ 12% per annum for Rs.8,35,257.20/- from the date of suit till date decree from the defendant and from his assets.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff is entitled to realize interest at 6% per annum from the date of decree till realization.
Evidence:
Plaintiff is entitled to realize interest @ 6% per annum for Rs.8,35,257.20/- from date of decree till date of realization from the defendant and from his assets.
Relief Type:
Recovery
Outcome:
Granted
Description:
Plaintiff is entitled to recover costs of the suit from the defendant.
Evidence:
Plaintiff is entitled to realize costs of the suit from defendant and from his assets.
Documents & Evidence
Document Type:
Credit Sanction Advice
Submitted By:
Plaintiff
Relevance:
This document shows the details of the loan sanctioned by the bank.
Reference:
Ext.A1
Document Type:
Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document evidences the hypothecation of the vehicle purchased with the loan.
Reference:
Ext.A2
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This is the promissory note executed by the defendant for the loan.
Reference:
Ext.A3
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
This document represents the undertaking given by the defendant regarding the loan.
Reference:
Ext.A4
Document Type:
Demand Notice
Submitted By:
Plaintiff
Relevance:
This notice was issued to the defendant under Section 13(2) of the SARFAESI Act demanding repayment.
Reference:
Ext.A5
Document Type:
Bank statement
Submitted By:
Plaintiff
Relevance:
This is the statement of accounts relating to the vehicle loan which evidences the outstanding dues.
Reference:
Ext.A6