Case Summary
This case involves Indian Overseas Bank seeking repayment from Mr. Nasheed.C for a vehicle loan he failed to repay. The plaintiff claims that the defendant has defaulted on loan payments despite multiple demands.
Judgment Outcome
Judgment Favored
Plaintiff
Relief Granted
Defendant is directed to pay an amount of Rs.10,25,110.03/- to the plaintiff and interest at the rate of 6% per annum.
Case Type
Commercial Suit
Final Judgment
No
The court decreed the suit in favor of the plaintiff, directing the defendant to pay the outstanding loan amount.
Why Plaintiff Won:
The defendant failed to repay the outstanding amount.
The defendant failed to repay the outstanding amount.
Losing Side's Weaknesses:
The defendant failed to repay the outstanding amount.
The defendant failed to repay the outstanding amount.
Supporting Evidence
The unchallenged oral testimony of PW1 coupled with documents Exts. A1 to A9 very well shows that the defendant failed to repay the outstanding amount with interest to plaintiff.
Judgment Evidence:
In the result, the suit is decreed as follows: 1.Defendant is directed to pay an amount of Rs.10,25,110.03/- (Rupees ten lakh twenty five thousand one hundred and ten and three paise only) to the plaintiff.
Parties Involved
Parties
- Party Role
- Plaintiff
- Party Name
- Indian Overseas Bank
- Party Role
- Defendant
- Party Name
- Mr. Nasheed.C
- Party Age
- 45
- Relation
- S/o
Plaintiffs Documents
Original sanction letter, letter of undertaking, deed of hypothecation, demand promissory note, revival letter, registered notice, acknowledgment card, account statement, non starter report.
Defendants Documents
Advocates
- Party Role
- Plaintiff
- Advocate Name
- Sri. Abdul Jaleel Onath
- Appearance Type
- Main Counsel
- Party Role
- Defendant
- Advocate Name
- Smt. Shiji. N
- Appearance Type
- Main Counsel
Reliefs
Relief Type:
Recovery
Outcome:
Granted
Description:
Defendant is directed to pay an amount of Rs.10,25,110.03 to the plaintiff.
Evidence:
Accordingly, the suit is liable to be decreed directing the defendant to pay the outstanding amount.
Relief Type:
Interest
Outcome:
Granted
Description:
Plaintiff will be entitled for interest at the rate of 6% per annum from the date of the suit till realisation.
Evidence:
The plaintiff will be entitled for interest at the rate of 6% per annum from the date of the suit till realisation of the decree.
Relief Type:
Costs
Outcome:
Granted
Description:
Plaintiff will be entitled for costs of the suit.
Evidence:
The plaintiff will be entitled for costs of the suit.
Documents & Evidence
Document Type:
Sanction letter
Submitted By:
Plaintiff
Relevance:
This document serves as proof of the loan amount sanctioned to the defendant.
Reference:
Ext.A1
Document Type:
Letter of undertaking
Submitted By:
Plaintiff
Relevance:
This letter outlines the terms for repayment in installments.
Reference:
Ext.A2
Document Type:
Deed of Hypothecation
Submitted By:
Plaintiff
Relevance:
This document secures the loan by hypothecating the vehicle.
Reference:
Ext.A3
Document Type:
Demand Promissory Note
Submitted By:
Plaintiff
Relevance:
This note represents the defendant's promise to repay the loan.
Reference:
Ext.A4
Document Type:
Revival Letter
Submitted By:
Plaintiff
Relevance:
This letter indicates the defendant's attempt to revive the loan account.
Reference:
Ext.A5
Document Type:
Registered Notice
Submitted By:
Plaintiff
Relevance:
This notice serves as proof of demand for payment sent to the defendant.
Reference:
Ext.A6
Document Type:
Acknowledgment card
Submitted By:
Plaintiff
Relevance:
This card acknowledges receipt of the registered notice.
Reference:
Ext.A7
Document Type:
Account Statement
Submitted By:
Plaintiff
Relevance:
This statement outlines the outstanding amount owed by the defendant.
Reference:
Ext.A8
Document Type:
Non Starter Report
Submitted By:
Plaintiff
Relevance:
This report indicates further issues related to the case.
Reference:
Ext.A9
Case Classification
Case Type
Commercial Suit
Category
Money and Loan Recovery
District
Kozhikode
State
Kerala
Court Establishment
Commercial Court Kozhikode
Common Reasons
Non-payment of rent
Case Code
Case between Indian Overseas Bank vs Mr. Nasheed.C regarding realisation of loan amount
Case Code Year
Case between Indian Overseas Bank vs Mr. Nasheed.C regarding realisation of loan amount